The Southeast Energy Exchange Market (SEEM) is the new energy market for the southeastern U.S. that is changing the power industry’s growing bilateral electricity market and promoting the delivery of cheaper, cleaner energy to consumers.
Proposed in 2021 by some of the South’s largest utilities, SEEM will benefit customers in 12 states. Currently, SEEM has 23 participants and is open to others meeting participant requirements. “These companies see SEEM as a platform to help save their customers money and better integrate renewable resources, while ensuring customers across the region realize the promise of renewables,” said Noel Black, Southern Company’s senior vice president of governmental affairs. SEEM is a new approach to the bilateral energy market that will facilitate trading at the sub-hourly level, allowing participants to buy and sell power closer to the time it’s consumed. It also enhances energy trading between the Southeast and the Midwest. After market trials in September and October, SEEM went live successfully on November 9.
MCG Energy Solutions’ applications are integrated with SEEMas well as all other ISOs and RTOs in North America. Contact the MCG Energy Sales Team to learn how our energy software can be your solution for working in SEEM and all other North American energy markets.
How Does SEEM Help With The Clean Energy Transition?
One of SEEM’s goals is assist with the integration of cheaper, cleaner energy for its clients. Inter-hour trading assists in a more efficient dispatch of generation, as well as in the reduction in the curtailment of wind and other renewable generation by making unreserved transmission available to intra-hour trading.
However, the Southern Environmental Law Center and other advocates of clean energy believe the platform may restrict the development of renewable energy by favoring large companies over small clean energy developers. In a pending SEEM lawsuit they are asking for review of FERC’s SEEM approval. They argue that SEEM could result in higher costs for millions of households in the Southeast while slowing progress toward clean energy targets. There are currently no independent power producers among the participants. However, SEEM maintains there are no barriers to entry for any participants that meet the application requirements.
What Is the Current Status of the SEEM Energy Market?
SEEM successfully opened for ongoing business on November 9, 2022. Nearly 60 million people are served by the companies in SEEM including the Southern Company, the Tennessee Valley Authority, Duke Energy and 20 more. Just in October, four Florida energy providers signed agreements to join the exchange. SEEM looks forward to the participation of other entities who can find advantage in the opportunity to buy and sell electricity under the new framework.
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Greg Maxfield, MCG Energy Customer Care Manager and Dave Peterson, MCG Energy Content Administrator