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The Reliability Imperative - Market Redefinition
Explore each of the four pillars of MISO's Reliability Imperative in this series.
Julie Newland - 09/01/2021

The electric system is increasingly fueled by wind and solar, driven by favorable economics for energy production, technological advances, state policies and consumer preferences for carbon-free energy, among other things. MISO, members, state regulators and other entities responsible for system reliability all have an obligation to work together to address these challenges. MISO calls this shared responsibility the MISO Reliability Imperative because the reliability-enhancing work it requires cannot be delayed. 

MISO's Response to the Reliability Imperative is best described by visualizing four pillars: Market Redefinition, Long-Range Transmission Planning, Market System Enhancement and Operations of the Future. This series explores each of those pillars.

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Market Redefinition aims to ensure that resources will be available all year long.

Our entire region faces increasing reliability risks outside of the summer peak-load months which historically posed the greatest challenges. Specific efforts in this area include providing a longer-term and deeper assessment of system needs across all hours of the year, including required capabilities such as flexibility; shifting to verifying sufficient generation adequacy across all hours of the year; improving how resources are accredited; ensuring that prices accurately reflect market conditions, especially during emergencies; and development of market products that provide the right incentives for resources to maintain system reliability.

“Market Redefinition means we need to consider the broad and transformative implications of the rapidly changing risk profile in MISO. This is driving our agenda to re-think the methods by which we assess reliability risk in the planning and operating horizons and the ways in which our markets incent and ensure availability and flexibility,” stated Executive Vice President of Market & Grid Strategy Richard Doying. 

MISO continues to advance critical Market Redefinition initiatives with stakeholders and with strategic insights. Watch the video for more details.