Southeast Energy Exchange Market adds four Florida energy companies to active trading

On Wednesday, the Southeast Energy Exchange Market (SEEM) announced it had added four Florida companies to active energy trading.

Duke Energy Florida, JEA, Tampa Electric Company and Gainesville Regional Utilities can all now buy and sell power using SEEM’s advanced platform. Started in November 2022, the energy trading platform provides energy companies with automated, sub-hourly trading, that allows participants to buy and sell power closer to the time it is consumed, using available unreserved transmission. Duke, JEA and Tampa Electric joined SEEM in January. Gainesville will be participating as a non-Member participant, SEEM said.

“Adding new Participants creates more opportunity for everyone in the market, enabling more matches and benefiting customers,” said Nelson Peeler, SEEM board chair and senior vice president of transmission and fuels strategy and policy at Duke Energy. “Expanding the SEEM footprint into Florida will also create more market diversity empowered by zero-cost transmission and further facilitate solar and renewables integration.”

SEEM said that during its first seven months of operation, more than 45,000 transactions have taken place, representing more than 1 terawatt (TW) of power transacted across all participants.

SEEMs footprint includes 23 entities in parts of 12 states with more than 180,000 megawatts across two time zones. SEEM companies serve the energy needs of more than 36 million retail customers.