The Southeast Energy Exchange Market continues to strengthen its ranks, adding four Florida utilities including Duke Energy to its lineup less than a month ahead of its planned launch.
Duke Energy Florida, JEA, Seminole Electric Cooperative and TECO Energy expect to join the energy market by mid-2023. The first market launch is scheduled for November 9, a SEEM spokesperson confirmed.
Florida utilities are expanding the market to include 23 facilities in a dozen states, SEEM officials said. The participants have a combined 180,000 MW of summer capacity, growing to nearly 200,000 MW in winter, to serve more than 36 million customers.
SEEM expects to save the customer “with lower fuel costs as we are able to select lower prices and more efficient production equipment to meet customer needs,” according to the marketing website.
Federal regulators approved new market share rules in November. A lawsuit challenging that approval is pending.
New market members view SEEM “as a platform to help save their customers’ money and better integrate renewable resources, while ensuring that customers in the region understand the promise of renewables,” Noel Black, Southern Company’s vice president of government affairs, said. report.
Black added that SEEM “continues[s] on the way and market testing in preparation for the market launch in the coming weeks. ”