Southeast Energy Exchange Market is open for business
The Southeast Energy Exchange Market (SEEM) initiated operations this week, allowing participants to buy and sell power using the advanced SEEM platform.
The new SEEM platform will facilitate automated, sub-hourly trading that allows participants to buy and sell power close to the time the energy is consumed, utilizing available unreserved transmission. SEEM is open to any entity that meets qualifying requirements.
“Today marks a significant milestone for SEEM following months of preparation for this first-of-its-kind energy market in the region,” Noel Black, Southern Company’s senior vice president of governmental affairs, said. “The SEEM platform will help save customers money and better integrate renewable resources while ensuring all customers across the region realize the promise of renewables.”
SEEM is designed for the rapid pace of change resulting from the clean energy transition. This advanced platform improves energy trading volumes, which will help lower fuel costs for customers, among other benefits.
The 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 Power, N.C. Municipal Power Agency No. 1, NCEMC, Oglethorpe Power Corp., PowerSouth, Santee Cooper, Southern Company, and TVA.
Further, four Florida energy companies — Duke Energy Florida, JEA, Seminole Electric Cooperative, and Tampa Electric Company — have signed agreements to join as members of SEEM starting Jan. 1, 2023.
With the addition of these Florida companies, the SEEM footprint would include 23 entities in 12 different states with more than 180,000 megawatts. These companies serve more than 36 million retail customers and roughly 60 million people.
