SOURCE: MISO

MISO

October 01, 2014 08:34 ET

MISO Confirms Benefits of MVP Projects

CARMEL, IN--(Marketwired - October 01, 2014) - A new report released by MISO demonstrates that the benefits of the Multi-Value Project (MVP) Portfolio not only remain intact, but are greater than previously estimated. 

The MVP Portfolio was first approved by the MISO Board of Directors in 2011. The portfolio is comprised of 17 transmission projects designed to address regional reliability needs, deliver significant economic benefits and provide greater access to renewable energy resources across the MISO footprint. 

The latest review found that the MVP Portfolio:

  • Allows in meeting state renewable energy standards through 2028 across the MISO footprint
  • Creates $13 to $50 billion in net economic benefits to customers over the next 20 to 40 years, a substantial increase from 2011 estimates
  • Provides benefits in excess of its costs, with its benefit to cost ratio ranging from 2.6 to 3.9- significantly higher than the range of 1.8 to 3.0 previously calculated
  • Reduces carbon emissions from electric generating units by 9 to 15 million tons annually
  • Continues to support the creation of thousands of local jobs and billions of dollars in local investment

"This study confirms that the MVP Portfolio will deliver significant value across the MISO region," said Jennifer Curran, vice president of system planning and seams coordination. "As generation supply tightens across the MISO footprint, these MVPs will play a key role in ensuring access to reliable, low- cost energy."

The increases in benefit projections are primarily attributed to natural gas price assumptions and declining capacity reserves. 

MISO conducted this full review of the MVP Portfolio benefits as part of a tariff requirement. The review has no impact on the existing MVP Portfolio's cost allocation.

"This review validates the work of MISO and our stakeholders to develop a portfolio of projects that are essential to meeting renewable energy standards across the region," continued Curran. "In the process, these MVP projects will improve the reliability and market efficiency of the region."

In 2011, the MVP Portfolio was a landmark development of transmission project plans across the MISO footprint. Through extensive work with MISO stakeholders, regulators and transmission owners, MISO established the MVP Portfolio as a way to improve reliability, lower the wholesale cost of energy and connect renewable energy resources to population centers across the MISO region. 

More information on MISO's MVP Portfolio can be found here

About MISO

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 more than $20 billion in annual gross market energy transactions. MISO was approved as the nation's first regional transmission organization in 2001. The not-for-profit organization is governed by an independent board of directors and is headquartered in Carmel, Indiana.

The following files are available for download:

Contact Information

  • Contact information

    Andy Schonert
    Media Relations
    MISO
    720 City Center Drive
    Carmel, IN 46032
    (d) 317.249.5831
    (m) 317.407.6146