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August 03, 2015 8:43 PM ET

Electric Utilities

Company Overview of Midcontinent Independent System Operator, Inc.

Company Overview

Midcontinent Independent System Operator, Inc. provides transmission services to its members in North America. The company’s members primarily include owners of electric transmission facilities, as well as other participants in the electric energy market. Its members have approximately 65,800 miles of transmission lines and 202,809 megawatts of electric generation capacity. The company was formerly known as Midwest Independent Transmission System Operator, Inc. and changed its name to Midcontinent Independent System Operator, Inc. in April 2013. Midcontinent Independent System Operator, Inc. was founded in 1998 and is headquartered in Carmel, Indiana.

720 City Center Drive

Carmel, IN 46032

United States

Founded in 1998

Phone:

317-249-5400

Fax:

317-249-5910

Key Executives for Midcontinent Independent System Operator, Inc.

Chief Executive Officer, President and Chief Operating Officer
Chief Financial Officer and Vice President
Vice President, Secretary and General Counsel
Chief of Staff and Vice President
President Emeritus and Director
Compensation as of Fiscal Year 2015.

Midcontinent Independent System Operator, Inc. Key Developments

FERC Accepts Order No. 1000 Interregional Filings by Southwest Power Pool Inc. and Midcontinent Independent System Operator Inc

The Federal Energy Regulatory Commission accepted Order No. 1000 interregional filings by Southwest Power Pool Inc. and Midcontinent Independent System Operator Inc. The two regions agreed on many revisions to their joint operating agreement (JOA) related to transmission coordination but disagreed on certain cost allocation methods that must be addressed in further compliance filings. Order No. 1000 requires neighboring transmission planning regions to identify and jointly evaluate interregional transmission facilities, which are facilities located in two or more neighboring transmission planning regions that may be more efficient or cost-effective solutions to the transmission needs of individual regions. It does not require an interregional transmission plan or interconnection-wide planning. Given their disagreement on interregional cost allocation, SPP and MISO filed competing proposals. Present order accepts both filings' proposed use of adjusted production costs to measure benefits in allocating the costs of interregional transmission facilities addressing economic needs. To allocate the costs of an interregional transmission facility meant to address reliability needs, the order accepts SPP's proposal to use a combination of avoided cost and adjusted production cost savings. MISO proposed to use only adjusted production cost and so was given 60 days to file revisions to its version of the JOA to adopt SPP's costs allocation method. Neither proposed an acceptable cost allocation method for interregional transmission facilities addressing regional transmission needs driven by public policy requirements. The order gives the grid operators 60 days to file a new cost allocation method for such projects. Present order notes, however, that to the extent SPP and MISO propose different interregional cost allocation methods for interregional transmission facilities addressing regional transmission needs driven by reliability, economics, and public policy requirements than accepted in the order, the Commission will address those proposed interregional cost allocation methods in the order on compliance.

The Midcontinent Independent System Operator, Inc. Breaks Ground on South Region Operations Center

The Midcontinent Independent System Operator, Inc. announced a regional operations center in Little Rock, Ark., signifying a continued commitment in the reliable delivery of least-cost energy to MISO members and their customers from the Great Lakes to the Gulf of Mexico. This action marks the next phase of the successful integration on Dec. 19, 2013, of the four-state electric grid spanning the southern region into MISO. Similar to the company's North Region Operations Center, the facility in Little Rock will serve as the command center for MISO's newly established South Region. MISO expects to hire roughly 50 employees with an average yearly salary of $85,000 for various positions, including real-time operations, market operations, customer services, government and regulatory affairs, information technology and administrative support. MISO expects to spend $22 million on its new facility in West Little Rock. The building is scheduled to be completed by the end of 2014 with an employee move-in date scheduled in spring of 2015.

A Joint Complaint Filed with the Federal Energy Regulatory Commission against Midcontinent Independent System Operator, Inc., International Transmission Company, Michigan Electric Transmission Company, LLC and ITC Midwest LLC

On November 12, 2013, certain parties filed a joint complaint with the Federal Energy Regulatory Commission ("FERC") under Section 206 of the Federal Power Act against the Midcontinent Independent System Operator, Inc. and various MISO transmission owners, including ITC Holdings Corp.s operating subsidiaries, International Transmission Company, Michigan Electric Transmission Company, LLC, and ITC Midwest LLC. The joint complainants are seeking a FERC order reducing the 12.38% base return on equity used in the MISO transmission owners rates, including MISO Operating Subsidiaries formula transmission rates, to 9.15%; instituting a capital structure in which the assumed equity component does not exceed 50%; and eliminating the return on equity adders currently approved for being a member of a regional transmission organization (for ITCTransmission) and for being an independent transmission owner (for ITCTransmission and METC). In the event a refund is required upon resolution of the complaint, the joint complainants are seeking a refund effective date as of the filing date of the complaint.

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