MISO approves long-range transmission projects for Midwest subregion
On Monday, the Midcontinent Independent System Operator (MISO) Board of Directors announced they had approved a portfolio of long-range transmission projects.
MISO, a not-for-profit organization focused on the generation and transmission of electricity and the electricity grid, said the portfolio, called the Tranche 1 portfolio, is the first of four planned tranches in MISO’s Long-Range Transmission Planning (LRTP) process. The portfolio includes 18 transmission projects in the organization’s Midwest subregion.
“We appreciate the spirit of collaboration and the hard work that MISO members and stakeholders have invested in these projects and look forward to continued discussion around future tranches,” MISO Chief Executive Officer John Bear said. “We also recognize the effort and strong support for LRTP from various regulators and policymakers in the states – including state utility commissions and governors.”
The organization said the projects are necessary to begin the integration of new generation resources outlined in MISO member and state plans and increase grid resiliency in the face of severe weather events.
Analyses indicate that the Tranche 1 benefits will exceed costs, with a benefit-to-cost ratio of at least 2.2 for all resource zones in the MISO Midwest Subregion. Benefits include congestion and fuel savings, avoided capital costs of local resource investment, avoided transmission investment, resource adequacy savings, avoided risk of load shed, and decarbonization.
“MISO’s LRTP process is focused on working collaboratively with our diverse stakeholder community to design the transmission system needed for continued reliable and resilient operations,” MISO President and Chief Operating Officer Clair Moeller said. “These projects will support the reliable, affordable transition of the generation fleet.”
