Cleco’s (NYSE:CNL) regulated utility, Cleco Power, has filed a change of control request with Louisiana state regulators seeking to become part of the Midwest ISO (MISO).
Cleco said MISO’s developed market will produce benefits for its customers through increased reliability and more efficient dispatch of generation.
If approved, the change of control will facilitate Cleco’s transfer of functional control of certain transmission assets to MISO that include transmission and congestion management. MISO would dispatch generation within the company’s balancing area.
Cleco also said that it will retain ownership of its transmission and generation assets and maintain responsibility for local system reliability planning.
“Our proposal is to join MISO in January 2014,” Cleco Corporation President and CEO Bruce Williamson said in the statement.
He noted that as the market structure changes, Cleco is positioned well to participate in MISO, adding that Cleco’s fleet is environmentally sound, well maintained and should perform well under MISO’s operating guidelines.
MISO President and CEO John Bear said in a separate Dec. 7 statement, “MISO has worked with Cleco and other stakeholders throughout the region to demonstrate how MISO’s large scale and established Day 2 market provide exceptional value to our members, and we welcome their membership.”
He noted that the move to MISO means greater reliability and lower costs for Cleco’s customers.
According to the filing with the state Public Service Commission (PSC), Cleco seeks a public interest finding in favor of the transfer and expedited treatment (Docket U-32631).
In June, the PSC approved Entergy Louisiana‘s and Entergy Gulf States Louisiana‘s request to choose MISO as their independent coordinator of transmission at the end of November. In that capacity, MISO will provide reliability coordination and long-term transmission planning, as well as oversee Entergy’s power procurement process, MISO added on June 28.
As reported on Dec. 3, MISO now has signed transmission owner agreements from all six Entergy (NYSE:ETR) operating companies.
A MISO spokesperson told TransmissionHub on Dec. 7 that since Entergy announced its intention to join MISO, MISO has worked with stakeholders throughout the region to help them evaluate their options and decide what is best for them and their customers.
“Throughout the Entergy process, MISO has worked with stakeholders to demonstrate the value MISO membership provides,” the spokesperson said. “We look forward to working with both Entergy and Cleco to deliver greater reliability and value across Louisiana.”