MISO’s Board of Directors has unanimously approved MISO’s Transmission Expansion Plan 2011 (MTEP11), a comprehensive long-term regional plan for the electric grid that will bring more than $2 billion in annual benefits for decades to come for energy consumers throughout the Midwest. The plan was developed during 18 months that included dozens of meetings with stakeholders to ensure the reliable and low-cost delivery of energy.
When combined with the existing power transmission network, the projects approved in MTEP11 will improve system reliability, connect 2,700 MW of queued generation and lower the cost of delivered energy while enabling energy policy mandates. Board approval requires that MISO’s transmission owners use due diligence to construct the facilities approved in the plan.
MTEP11 recommends 215 new transmission infrastructure projects, including 16 industry-leading Multi-Value Projects (MVPs). Together with the previously approved MVP, the 17 MVPs alone will create $15.5 to $49.2 billion in net present-value benefits over a 20 to 40-years. The MVP portfolio provides broad regional benefits commensurate with costs and it supports state and federal energy policy mandates in the MISO region. In total, the portfolio will deliver benefits in excess of 1.8 to 3.0 times its costs. For retail customers, that translates to $23 in benefits from lowered delivered energy costs for about $11 a year in investment — a 109% return.
“The portfolio of Multi-Value Projects will not only improve regional reliability, but it also will create up to 39,800 construction and 74,000 total annual jobs and generate up to $49.2 billion in benefits from the use of lower-cost generation and reductions in energy wasted through transmission losses,” says MISO CEO John Bear. “In addition, all of MTEP11 projects are essential to helping the region manage the severe drop in planning reserve margins that is likely to occur in the next several years if pending environmental regulations proceed as planned,” he said.
Through use of a low-cost generation siting system developed in collaboration with MISO’s stakeholders, state regulatory officials and transmission owners, MVPs optimize portability for wind generation while minimizing distances from planned transmission to other fuel sources, assisting the region’s transition to new generation facilities. This in turn lets states within the MISO footprint meet their renewable energy goals and ensure lower-cost generation is utilized in the wake of pending environmental regulations that could cause the simultaneous outage of 61,000 MW of coal-fired generation in the region.
For more information on MISO’s value-added planning process, MTEP11 and the Multi-Value Projects portfolio, see MISO’s MTEP11 and MVP One-Pagers posted on MISO’s website. There you will find information on the following topics:
- MTEP 11 Overview
- Benefits from Multi-Value Projects
- How MVPs Create Jobs, Benefits for States
- MVP Map by Zone
Filed Under: News, Policy, Projects