Cleco completes successful integration into MISO
PINEVILLE, La. - Today, Cleco Power LLC, Cleco Corporation's (NYSE: CNL) regulated utility subsidiary, successfully integrated into the Midcontinent Independent System Operator, Inc. (MISO) market.
"Our success started with a concept in 2009 and required the focus of many employees led by a core Cleco team to make this day a reality," said Darren Olagues, president of Cleco Power. "With MISO membership, we begin a new chapter in our utility's history. MISO, as a multi-regional transmission organization, offers better use of resources through a coordinated effort. We are changing the way we deliver power, and this is a positive step for our customers and company."
MISO offers Cleco customers more reliable power through regional transmission planning and coordination. The organization also has the ability to make dispatch decisions that produce highly competitive pricing throughout its large energy and ancillary services market.
"We look forward to working with our new members in the South Region to meet stakeholder needs and provide increased reliability and significant economic benefits," said John Bear, president and CEO of Midcontinent Independent System Operator.
"As this new market operates and matures, we anticipate transmission investment opportunities and a broader wholesale energy market that could result in growth for our company," said Olagues.
Cleco will retain ownership of its transmission system and maintain responsibility for local system reliability planning as a MISO member.