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Utility presents MISO auction results; board hears implications for pricing and renewable mandates
Summary
Utility staff summarized MISO auction results showing lower average market costs ($3.84/kW‑month) compared with the previous year and explained how capacity and resource additions (wind, solar, storage) affect pricing. Staff also noted state renewable and clean energy targets and estimated a possible $4 million annual increase in purchase power costs if full zero‑carbon requirements are implemented.
The utility’s briefing on the Midwest Independent System Operator (MISO) 2027–28 auction showed a lower average market price than the prior year and described how capacity additions are shaping the market. The presenter told the board the average cost shown on the slide was $3.84 per kilowatt‑month, compared with $6.60 last year, and noted AMP’s budget assumption of $3.92 per kilowatt‑month. Staff said summer pricing was lower this year while winter pricing had edged higher.
Staff explained that MISO’s queue contains substantial new resources — including natural gas, wind, solar and battery storage — that are changing supply dynamics. The presenter said the utility is in zone 7 of MISO and that, overall, sufficient capacity was reported for the coming planning year.
The briefing also covered state policy drivers. Staff summarized requirements in PA 235 (renewable energy targets) and discussed a separate clean energy plan that would seek deep carbon reductions: staff said an illustrative full zero‑carbon outcome could increase purchase power costs by roughly $4 million per year based on the utility’s integrated resource plan. Board members were told staff will monitor market developments and policy proposals and integrate those variables into future planning and budgets.
The board did not take a formal vote on market outlook; the presentation was given for oversight and planning purposes.
