Four Florida energy companies have signed agreements to join as members of the Southeast Energy Exchange Market (SEEM), effective Jan. 1, 2023. Duke Energy Florida, JEA, Seminole Electric Cooperative and Tampa Electric Company recently expressed their intent to join the expanded platform and expect active energy trading in mid-2023.
“These companies see SEEM as a platform to help save their customers money and better integrate renewable resources, while ensuring customers across the region realize the promise of renewables,” said Noel Black, Southern Company’s senior vice president of governmental affairs. “We welcome these Florida entities and continue on track with market trials to prepare for market launch in the coming weeks.”
SEEM is a unique and thoroughly new approach to enhancing the existing bilateral market. 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. Participation in SEEM is open to other entities that meet the appropriate requirements.
SEEM is a 21st century solution designed for the incredible pace of change resulting from the clean energy transition. Southeastern electricity customers are expected to see cost and environmental benefits as a result of the new platform.
Other founding members of SEEM include Associated Electric Cooperative, Dalton Utilities, Dominion Energy South Carolina, Duke Energy Carolinas, Duke Energy Progress, Georgia System Operations Corporation, Georgia Transmission Corporation, LG&E and KU Energy, MEAG, N.C. Municipal Power Agency No. 1, NCEMC, Oglethorpe Power Corp., PowerSouth, Santee Cooper, Southern Company and TVA. With the addition of these Florida companies, the SEEM footprint would include 23 entities in parts of 12 states with more than 180,000 MWs (summer capacity; winter capacity is nearly 200,000 MWs) across two time zones. These companies serve the energy needs of more than 36 million retail customers (nearly 60 million people).