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Staff reports MISO planning-year error and possible credits; SIPCO proposes 240 MW Hickory Grove peaker plant
Summary
Staff told the board that MISO admitted a planning-year calculation error dating to 2018–19 and that, per tariff, MISO plans to correct the current planning year only; staff said the regional financial impact for the current year was estimated at $280 million and that credits may follow. Staff also reported Central Iowa Power Cooperative proposed a 240 MW Hickory Grove gas peaker plant intended to run during critical peaks to support reliability.
Sandy updated the board on regional market and planning developments on Sept. 23. She said MISO (the Midcontinent Independent System Operator) notified members that a third-party reporting error led to incorrect planning-year calculations going back to planning year 2018–19; under MISO tariff staff said MISO expects to correct only the current planning year.
Sandy reported that the financial impact for the current planning year was estimated at $280 million regionally, with roughly 80% of that impact occurring during summer months; she said more detailed credits and charge calculations were expected once MISO completes its corrections and issues the necessary accounting adjustments.
Sandy also relayed that Central Iowa Power Cooperative (referred to as SIPCO) has proposed a 240-megawatt gas-fired Hickory Grove generating facility near Mazeville to operate as a peaker plant during critical-demand periods. Staff cautioned residents that a peaker plant runs only when wholesale prices warrant and is not a continuous source of base power.
