As posted to the SEEM website, SEEM is “a group of energy companies serving electricity customers across a wide geographic region in the southeastern U.S.,” focused on “delivering an integrated, automated intra-hour energy exchange with goals of lowering costs to customers, optimizing renewable energy resources.” A few months back, the Federal Energy Regulatory Commission (FERC) gave clearance to the Southeast Energy Exchange Market (SEEM) members for their proposed trading platform and transmission systems. With this approval in place, SEEM can continue creating a technology platform to put in place by mid-2022.
According to Duke Energy, an American electric power and natural gas holding company headquartered in Charlotte, North Carolina, “the new SEEM platform will facilitate sub-hourly, bilateral trading, allowing participants to buy and sell power close to the time the energy is consumed, utilizing available unreserved transmission. SEEM is a 21st century solution designed for the incredible pace of change resulting from the electricity sector growing toward an ever-greener future. Southeastern electricity customers will see cost, reliability and environmental benefits.”
Noel Black, Southern Company’s Vice President of Governmental Affairs, stated to the public, “We are excited the SEEM platform has received this approval. SEEM members want to thank the FERC commissioners and we also thank the FERC staff for their thorough review.” He continued, “SEEM will allow resources to more easily access the electricity wholesale market and will enable and encourage new technologies and approaches necessary to deliver more economic and clean energy to our customers. We look forward to soon delivering those benefits to customers.”
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