Santee Cooper formally joins SEEM
Santee Cooper, South Carolina’s state-owned electric and water utility, has joined the Southeast Energy Exchange Market effective Tuesday, January 4, 2022.
“After nearly two years working with the other SEEM member utilities, Santee Cooper is pleased to formally join the group. We are excited by the opportunities SEEM will offer our customers, including better capability for integrating renewables and savings from lower fuel costs and improved efficiencies,” said Charlie Duckworth, Santee Cooper Deputy CEO and Chief Innovation and Planning Officer.
“SEEM members are excited about the addition of Santee Cooper,” said Noel Black, Southern Company’s vice president of governmental affairs. “We look forward to working with Santee Cooper in delivering more economic and clean energy to customers within the SEEM footprint.”
SEEM is a unique and thoroughly new approach to enhancing the existing bilateral market. The new SEEM platform will facilitate sub-hourly, bilateral 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 other entities that meet the appropriate requirements.
SEEM is a 21st century solution designed for the incredible pace of change resulting from the electricity sector growing toward an ever-greener future. Southeastern electricity customers will see cost and environmental benefits as a result of the new platform.
Other founding members of SEEM are expected to 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, Southern Company and TVA.
The founding members represent nearly 20 entities in parts of 11 states with more than 160,000 MWs (summer capacity; winter capacity is nearly 180,000 MWs) across two time zones. These companies serve the energy needs of more than 32 million retail customers (roughly more than 50 million people).