The Midwest Independent Transmission System Operator Inc. (MISO) has formally certified to federal regulators that it is ready and able to operate its new energy markets. MISO filed certificates of operational and organizational readiness with FERC late Tuesday, affirming the organization is prepared to successfully launch its energy markets on April 1.
"We have thoroughly tested our systems, properly trained our personnel, and put in place the financial resources we need to successfully operate these markets," said MISO CEO James P. Torgerson. "We are ready to successfully operate Energy Markets that will be of benefit to customers throughout the Midwest region."
In its Aug. 6, 2004 conditional approval of MISO's Transmission and Energy Markets Tariff, FERC required the organization to certify its market readiness.
The tariff sets the rates, terms and conditions necessary to implement a platform that features the centralized dispatch of generation resources throughout much of the Midwest. The tariff is consistent with the mandate of FERC Order No. 2000, which requires Regional Transmission Organizations (RTOs) such as MISO to provide real-time energy imbalance services and a market-based mechanism for congestion management.
In certifying its operational readiness, MISO's Chief Operating Officer John Bear said that the grid operator's various systems are processing and producing information sufficient to support all the functions of its energy markets. The organization has prepared its staff and has established appropriate seams arrangements with neighboring reliability coordinators and others to ensure the market will operate reliably.
"Based upon my observation of system tests and examination of materials provided to me regarding the status of the Midwest ISO's various systems, I am confident the systems we have in place will support the functions of Midwest ISO's Energy Markets," Bear added. "We are ready to go."
MISO initially planned to launch the new markets on March 1, but subsequently decided to delay the move one month after market participants sought the added time to allow for additional testing of systems and training.
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