CARMEL, Ind. — The Midcontinent Independent System Operator (MISO) is pleased to announce the completion of the first competitive transmission project in their operating footprint.
On June 11, Republic Transmission energized the Duff to Coleman Project and became a new Transmission-Owning member of MISO. The project - a 31-mile, 345 kV line spanning between southern Indiana and western Kentucky – was the first project in the MISO footprint eligible for competition under FERC Order 1000.
“New Transmission-Owning members bring diversity to our footprint and the competitive transmission process allows us to work with our members to identify projects that create value for the entire bulk electric system,” said Aubrey Johnson, Executive Director of Systems Planning and Competitive Transmission. “Our existing member companies collaborated with Republic and MISO to bring this project to fruition.”
MISO selected Republic Transmission for the Duff to Coleman project in December 2016, after completing a competitive process that determined Republic Transmission provided the highest degree of certainty, the lowest risk, and top tier operations and maintenance. Republic Transmission is the first entity to implement a project in MISO with binding cost containment provisions, which include a cost cap below MISO’s original estimate, as well as a return on equity cap, equity percentage cap and a schedule guarantee.
The Duff to Coleman project was approved by MISO’s Board of Directors as part of the 2015 MISO Transmission Expansion Plan, which found that the project would strengthen the 345 kV backbone in the MISO Central Region and provide more than $1 billion in estimated benefits, far exceeding its cost. The project was originally scheduled for completion in January 2021, but Republic Transmission and MISO companies Vectren and Big Rivers were able to complete it over six months ahead of schedule.
“The culmination of this project and its transition into operations ahead of schedule and within our cost commitments demonstrates the benefits that can be realized by consumers through FERC Order 1000 competitive transmission processes,” said Paul Thessen, President of LS Power. “We appreciate the efforts of MISO, project participants Hoosier Energy and Big Rivers, and interconnecting transmission owner, Vectren, to make this project a success.”