MISO planning resource auction prices for the 2021 planning year did not live up to their expectations from 2020 auction results. In the 2020 auction, the Michigan zone cleared at a cost of new entry of $250-per-MW-day. But in the latest auction results from April, MISO capacity prices were mostly in the $5-per-MW-day range, and in some South zones, they were at $0.00. These capacity prices are hardly incentivizing either renewable energy developers such as solar or energy storage developers. Before jumping to the conclusion that MISO capacity prices are not high enough for new capacity, developers should look at the OMS MISO survey in June to learn more about capacity deficiencies in the MISO footprint. The capacity survey helps both MISO and its state regulators look ahead five years, given the state of vertically integrated utilities at MISO. MISO Auction results show transmission limits not bindingWhat is interesting from MISO auction results, from a transmission point of view is, that the capacity import limit was not found for Illinois zone 4. Recall in 2015 auction Illinois zone cleared at the cost of new entry. Also surprising is that the capacity export limits were not found for the Iowa, Missouri, Michigan, and Arkansas zones. The capacity import limit means there is a transmission constraint that limits the capacity to import into a zone, whereas the capacity export limit means a transmission constraint is limiting the export of capacity outside of the zone. IRPs are opportunities for standalone storageAlmost 35% of the capacity offered and cleared in this latest auction is from integrated resource plans. Most MISO states are vertically integrated, unlike PJM’s. This integration means the opportunity for standalone storage exists with investor-owned utilities who are looking to meet their long-term capacity needs with state PUCs. Minnesota Power and Xcel

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