The Southeast Energy Exchange Market (SEEM), a proposed trading platform for 15 utilities[1] in the Southeast, became operational on October 12, 2021, after the Federal Energy Regulatory Commission deadlocked 2-2 on whether to approve it.[2] The proposal was enacted by default because the four-member commission didn't act within the 60-day limit set by section 205 of the Federal Power Act (FPA). The commission could not agree on the lawfulness of the change, according to FERC’s notice. The proposal was initially filed with FERC in February 2021 and has since been amended twice. According to the utilities backing the plan, SEEM will set up an automated trading platform to buy and sell excess wholesale energy every 15 minutes, with the aim to reduce costs to customers and boost renewable energy resources. The platform is expected to produce up to $50 million in annual savings in the near term. SEEM expects to be operational in 11 states by mid-2022. Rehearing requests for the FERC decision are due in 30 days and the commission will have another 30 days to respond to them. FERC's commissioners will explain their views on the SEEM proposal in upcoming filings.

[1] The full list of expected members is: Associated Electric Cooperative, Dalton Utilities, Dominion Energy South Carolina, Duke Energy Carolinas, Duke Energy Progress, Georgia System Operations Corporation, Georgia Transmission Corporation, LG&E and KU Energy, MEAG Power, NCEMC, Oglethorpe Power Corp., PowerSouth, Santee Cooper, Southern Company and TVA.

[2] https://southeastenergymarket.com/wp-content/uploads/Notice-re-SEEM-Effective-by-OOL-10.13.2021-ER21-1111.pdf

https://southeastenergymarket.com/wp-content/uploads/NR-SEEM-FERC-Approval-2-2-vote-FINAL-101321.pdf