Commission-Approved MISO Membership creates $118 Million in Savings, Spurs Economic Development
Entergy customers save millions in first three years
Entergy Mississippi, Inc. customers saved some $118 million over the last three years, thanks to the Mississippi Public Service Commission’s approval for the utility to join MISO, a regional transmission organization.
Entergy Corporation’s four southern utilities joined MISO on Dec. 19, 2013, after a lengthy period of regulatory review and cost-benefit analysis. The savings have exceeded the analysis’ projections.
These lower energy costs not only benefit Mississippi residents, business and industry; they are key to attracting new business and industry to the state. The MPSC, MISO and Entergy Mississippi have formed a partnership to foster economic development in Mississippi.
“Today we have the commitment that Entergy Mississippi and MISO will work together – along with our state economic development partners – to identify and realize economic opportunities for the future of Mississippi,” said Sam Britton, southern district commissioner. “Since supporting Entergy’s integration with MISO three years ago, we continue to see a return on value for the people of Mississippi through low-cost, reliable energy.”
“The Public Service Commission is committed to reducing the cost of electricity in Mississippi,” said Brandon Presley, Northern District commissioner and MPSC chairman. “By having access to electric power in other markets through MISO, we drive down the cost of living for Entergy customers and grow the state’s economy.
“The availability of affordable, reliable energy is vital in recruiting and retaining jobs, and creating opportunities for our state,” said Cecil Brown, central district commissioner. “Entergy has a long record of supporting a strong economy in Mississippi, and we look forward to working with MISO and our community and economic development partners as we move forward.”
MISO manages the commitment and dispatch of electrical generation on the transmission grid, maintains reliability, plans new transmission facilities and operates markets for the purchase and sale of electricity and related products.
The $118 million in savings largely comes from the more efficient commitment and dispatch of power plants. This results in access to lower cost electricity through MISO’s power market. At 6.29 cents per kilowatt hour, Mississippi’s average industrial rate is well below the national average – a key factor when companies look to expand or relocate.
“Thanks to the Mississippi Public Service Commission, we’ve been able to provide our customers with the wide range of benefits offered by membership in MISO, a membership from which they will benefit for years to come,” said Bob Grenfell, Entergy Mississippi vice president of regulatory affairs. “Joining MISO is a great example of how we work to control customer costs and keep rates low so we can help drive economic growth.”
“At MISO, our number one mission is to deliver electricity to our members at the lowest cost and highest reliability,” said Todd Hillman, vice president and South Region executive for MISO. “That translates to financial savings for member utilities and power consumers – and ultimately fuels a more prosperous economy for our region.”
Entergy Mississippi, Inc. provides electricity to approximately 445,000 customers in 45 counties. Entergy Corporation is an integrated energy company engaged primarily in electric power production and retail distribution operations. Entergy owns and operates power plants with approximately 30,000 megawatts of electric generating capacity, including nearly 9,000 megawatts of nuclear power. Entergy delivers electricity to 2.9 million utility customers in Arkansas, Louisiana, Mississippi and Texas. Entergy has annual revenues of approximately $10.8 billion and nearly 13,000 employees.
MISO ensures reliable operation of, and equal access to high-voltage power lines in 15 U.S. states and the Canadian province of Manitoba. MISO manages one of the world’s largest energy markets, with $25 billion in gross annual market charges. MISO was approved as the nation’s first regional transmission organization in 2001. The non-profit 501(C)(4) organization is governed by an independent Board of Directors and is headquartered in Carmel, Ind. Membership is voluntary.
For more information regarding Midcontinent Independent System Operator contact the Mississippi Public Service Commission at 1-800-356-6428 or online at www.psc.state.ms.us
Joint MPSC/Entergy Press Release