CARMEL, Ind. — Today, MISO released the 2025 Planning Resource Auction (PRA) results indicating adequate resources are available to maintain reliability during the upcoming planning year (June 2025 – May 2026). While the 2025 auction prices reflect a tightening supply-demand balance during the summer months, there is sufficient capacity throughout the MISO footprint.
This is the first year MISO utilized a Reliability-Based Demand Curve (RBDC), which introduces a reliability-focused pricing structure that more accurately reflects the increasing value of accredited capacity as the system approaches minimum resource adequacy targets.
“MISO's market reforms continue to assist in providing pricing signals that improve market efficiency and enhance reliability across the footprint,” said Aubrey Johnson, MISO’s vice president of system planning and competitive transmission. ““We developed the RBDC through extensive collaboration with the Organization of MISO states, our stakeholders and our Independent Market Monitor to ensure this proactive approach helps meet the future needs of our evolving fleet.”
The seasonal Auction Clearing Prices are:
The majority of MISO’s Load Serving Entities (LSEs) either self-supply or secure the capacity they need before the auction. Those that enter the auction to procure capacity must pay the Auction Clearing Price and those holding excess capacity sell it at the same clearing price. The impact on consumer costs will vary and depends on factors such as the size of any capacity shortfall and the terms of wholesale power purchase agreements or state-regulated retail rates.
“This year’s results underscore MISO’s proactive Market Redefinition efforts to enhance resource availability as outlined in the Reliability Imperative.” Johnson continues. “MISO, our states and our stakeholders continue to make progress responding to the resource adequacy challenges we face, and these results offer valuable insights to allow members to maximize their existing resources and plan for the ongoing energy transition.”
MISO’s Independent Market Monitor has reviewed and agreed with the offers and results of the 2025 PRA. MISO will host the 2025 Planning Resource Auction Results meeting April, 29 at 10 a.m. ET.
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MEDIA CONTACT:
Brandon D. Morris
Midcontinent Independent System Operator (MISO) is an independent, not-for-profit organization that delivers safe, cost-effective electric power across 15 U.S. states and the Canadian province of Manitoba. 45 million people depend on MISO to generate and transmit the right amount of electricity every minute of every day. MISO is committed to reliable, nondiscriminatory operation of the bulk power transmission system and collaborating with all stakeholders to create cost-effective and innovative solutions for our changing industry. MISO operates one of the world’s largest energy markets with more than $40 billion in annual gross market energy transactions.