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October 24 & 25, 2005 Beijing, China

The Midwest ISO At the Crossroads of America International Meeting of Very Large Power Grid Operators. October 24 & 25, 2005 Beijing, China. Agenda. Midwest ISO: At the Crossroads of America Objective & Benefits of ISO/RTO’s The Midwest ISO Status of the Midwest Market Key Technologies

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October 24 & 25, 2005 Beijing, China

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  1. The Midwest ISOAtthe Crossroads of AmericaInternational Meeting of Very Large Power Grid Operators October 24 & 25, 2005 Beijing, China

  2. Agenda • Midwest ISO: At the Crossroads of America • Objective & Benefits of ISO/RTO’s • The Midwest ISO • Status of the Midwest Market • Key Technologies • Path Forward • Information

  3. At the Crossroads of America: Literally and Figuratively • Continually evolving industry • Regulatory preference • Ensuring safe & reliable delivery • Energy markets

  4. What is an RTO? • A Regional Transmission Organization (RTO) provides wholesale electric transmission service under one tariff for a large geographic area • An RTO must meet certain characteristics to be approved by the FERC • Independence • Scope and Regional Configuration • Operational Authority • Reliability Authority • An approved RTO must also be able to provide certain regional functions • Tariff Administration • Congestion Management • Parallel Path Flow • Ancillary Services • Open Access Same-Time Information Systems (OASIS) • Available Transmission Capacity (ATC) • Market Monitoring • Planning and Expansion • Interregional Coordination

  5. ISO/RTO Benefits • Efficiency & Optionality • Efficiency of equipment usage for generators and transmission grid • Increased supply options and optimal use of energy resources across footprint • Transparency and energy pricing data availability • Security constrained unit commitment and economic dispatch for load • Market-based congestion management • Independence • Non-discriminatory open access to a large consolidated transmission system • Independent Available Transfer Capability (ATC) & Available Flowgate Capability (AFC) • Independent market monitoring and mitigation in place • Enhanced Reliability • Better planning process for a large region, maintaining or improving reliability • Allows the opportunity to provide and implement a long-term congestion solution • Improved maintenance and outage coordination • One-stop Shopping • Single OASIS and scheduling system • Consolidation of reliability coordinators into one regional entity • Establishes one generator interconnection process • Cost Savings • Elimination of “pancaked” rates over a large area • All of the items above in One-Stop Shopping • Eliminates seams within the RTO and addresses seams with other RTO’s • Provides opportunity to consolidate and lower reserve requirements regionally

  6. What We Do • Centralize Generation Dispatch and Outage Management • Manage congestion via Locational Marginal Pricing (LMP), Transmission Loading Relief (TLR) and Seams agreements • Evaluate all resources within the Midwest ISO footprint as a pool • Maintain and Enhance Reliability • Ensure real-time operating reliability of the interconnected bulk transmission systems • Interact with 26 Balancing Authorities and maintain system reliability • Provide Transmission Services • Provide Market Services • Operate Day-Ahead & Real-Time Markets (2 settlements) • Administer auctions for Financial Transmission Rights (FTR) • Seams Coordination • Regional Planning • Ensure long-term (1+ years) plan availability for adequate resources and transmission • Integrate and assess transmission and resource plans

  7. Who We Are The Midwest ISO is an independent, non-profit reliability coordinator for the transmission of high voltage electricity via a security constrained economic dispatch across all or parts of 15 states and Manitoba • Operational Since December 15, 2001 • Market Launch on April 1, 2005 • 27 Transmission-owning entities • Security constrained economic dispatch • Dynamic market monitoring • Multi-control area environment (35 Balancing Authorities (reliability) • All-Time Peaks in 2005: 112,197 MW (footprint) & 131,434 MW (reliability) • 135,054 MW generating capacity • 97,000+ miles of transmission lines • Large footprint - 947,000 square miles & 15.1 million customers • Over $12 billion installed assets • 1,504 generating units (reliability footprint) • All industry sectors represented • Carmel, IN & St. Paul, MN Control Centers

  8. Midwest ISO: Key Technologies • State Estimator: Power System Model • 170,000 data points collected every 15 seconds • Executes every 90 seconds with 99.8% solution availability • 8,500 contingencies assessed every 2.5 minutes for: • 31,000 buses • 30,000 transmission lines (AC) • 15,000 transformers • 4,600 generating units • Unit Dispatch System (UDS) • Utilizes load forecasts, scheduled net market interchange, current generator output, generator ramp limits and offers, transmission constraints • Results in most economic generation being utilized to serve customer load and manage constraint • Security-constrained dispatch provided every 5 minutes • Monitoring & Reliability Tools • Topology processor • Back-up capability and redundancy • Monitoring tools for generation/power supply, transmission “delta flow” and flowgates

  9. Midwest ISO PJM NYISO IESO Market Overview Data Real-Time Market Prices Midwest ISO: Day-Ahead Cleared Demand (2005) TWh$ US (Billions) August 66.3 4.5 July 63.0 3.9 June 57.6 3.1 May 49.1 1.6 April 43.9 1.9

  10. January - March April 1st Q2/Q3 Q4 Market Launch Startup Stabilization Preparation • Extensive market trials • Comprehensive Training programs - Market Participants - Midwest ISO Personnel • Coordinated System Operations tests • Comprehensive IT systems testing • Working directly with Market Participants & Other Stakeholders Experience • Smooth start-up • Good system performance • Improved reliability • Good Operator performance • Stable seams coordination Challenges • Portal data queries • Generation offer characteristics • Unit Commitment • Data Transfer to Settlements • Generation outage planning • Balancing Authority coordination Experience • Smooth transition to Market-Based rates • Continued system stability • Market Participant development Challenges • System enhancement • Market information dissemination • Balancing Authority Control Performance Standards (CPS) • Settlement Disputes • Market development • Access to Operating Reserves Status of the Midwest Market

  11. Midwest ISO: Path Forward • Overall cost efficiencies • Operations Excellence: continue to improve operational and market efficiency • Explore further market development • Joint & Common Market (JCM) & interregional coordination • Ancillary Services • Generation Adequacy (Capacity) • Long-term FTR • Energy Policy Act of 2005 • Enhancing external reporting capabilities and core IT system performance • Continued focus on information, education and communication

  12. For More Information • www.midwestmarket.org • www.miso-pjm.com • www.misostates.org

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