The Southeast Energy Exchange Market announced it has initiated operations, which now allows participants to buy and sell power using the advanced SEEM platform.
"Today marks a significant milestone for SEEM following months of preparation for this first of its kind energy market in the region," said Noel Black, Southern Company's senior vice president of governmental affairs. "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 a unique approach to enhancing the existing bilateral market. The new SEEM platform will facilitate automated, sub-hourly trading, allowing participants to buy and sell power close to the time the energy is consumed, utilizing available unreserved transmission. Participation in SEEM is open to any entity that meet qualifying requirements.
SEEM is a 21st-century solution designed for the incredible pace of change resulting from the clean energy transition. This advanced platform improves energy trading volumes, which will lower fuel costs for customers and reduce solar curtailments.
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.
Four Florida energy companies - Duke Energy Florida, JEA, Seminole Electric Cooperative and Tampa Electric Company - have signed agreements to join as members of SEEM effective Jan. 1, 2023, and expect to initiate active energy trading in mid-2023.
With the addition of these Florida companies, the SEEM footprint would include 23 entities in parts of 12 states with more than 180,000 MWs (summer capacity; winter capacity is nearly 200,000 MWs) across two time zones. These companies serve the energy needs of more than 36 million retail customers (nearly 60 million people).