MISO survey looks at resource capacity in region it serves
A new survey from the Midcontinent Independent System Operator (MISO) and the Organization of MISO States (OMS) shows a potential capacity deficit of 2.6 GW, or 2.4 GW surplus, compared to the 2023 Planning Reserve Margin Requirement.
The survey notes that the potential capacity deficit is dependent on market responses between now and the Summer of 2023. For Summer 2023, the potential capacity deficit of 2.6 GW already reflects 1.9 GW of transfers from within MISO. Non-firm imports from neighboring regions are typically available and will likely be needed next summer. New capacity and/or deferred retirements may also be required to meet overall requirements.
Overall, the survey results align with MISO’s 2022 Planning Resource Auction results and recent Summer Assessment, both of which indicated tightening conditions, primarily in MISO North/Central subregions.
“This survey provides critical information on the rapid changes occurring with our resource mix. Visibility into this type of information is essential for states and utilities to ensure we will be able to cover the resource needs of the region going forward and maintain reliability,” said Sarah Freeman, president of the Organization of MISO States and commissioner with the Indiana Utility Regulatory Commission. “States stand ready to work with MISO to ensure state resource planning and MISO market signals work in concert to maintain reliability and resilience throughout this significant resource transformation.”
For 2024 and beyond, the capacity deficits are projected to widen due to declining committed capacity and modestly growing demand. Therefore, continued actions will be needed to ensure resource adequacy in the extended outlook.
“As we reflect on our ninth survey together, the results are a critical tool in helping us manage the uncertainty and volatility of the resource transition and reinforce our Response to the Reliability Imperative,” John Bear, MISO’s CEO, said. “We support state resource adequacy efforts and collaborate to provide a snapshot in time of what we need and what is available.”
OMS and MISO conduct this survey annually to assess available resource capacity to serve the projected load over the next five years.
