Since Cooperative Energy joined MISO, a regional transmission organizations (RTO), in 2012, they have yielded millions in savings for Members of the not-for-profit electric cooperative based on information provided by MISO and internal assessments.
In a release by Cooperative Energy the staff gave an analysis to quantify the benefits of the MISO membership. So far 11 member electirc distribution systems and close to one million Mississippians who use those systems saved an estimated $140 million in the first three years.
“It is great to see these savings for members and the positive economic impact low-cost, reliable power has in our state,” Southern District Public Service Commissioner Sam Britton said. “I look forward to seeing the benefits of this partnership and the value it provides continue into the future.”
The savings are attributed to the efficient use of generation resources in the MISO footprint that allows Cooperative Energy to purchase low-cost energy to meet load requirements while providing the ability to get it’s energy resources out helping lower overall costs.
“I and my fellow Commissioners are always looking for ways to keep customers’ power bills low,” said Brandon Presley, Northern District commissioner and MPSC chairman. “MISO has given us access to cheaper power, which in turn lowers bills and puts more money back in the pockets of the people who drive Mississippi’s economy.
Independent studies done by Cooperative Energy five years ago found that membership in MISO would prove beneficial for the wholesale electric provider. MISO President and CEO John Bear assured that the move to MISO would mean “greater reliability and lower costs for its Member system” and their members.
Cooperative Energy serves as the only not-for-profit wholesale electric power provider headquartered in Mississippi. In this role, Cooperative Energy generates and transmits electricity for 11 Member distribution centers.
