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LS Power Completes “Republic Transmission”, MISO’s First Competitively Awarded Transmission Project

LS Power Completes “Republic Transmission”, MISO’s First Competitively Awarded Transmission Project

June 11, 2020

New member company Republic Transmission energized their first line this month

CARMEL, Ind. — The Midcontinent Independent System Operator (MISO) is pleased to announce the completion of the first competitive transmission project in their operating footprint.

On June 11, Republic Transmission energized the Duff to Coleman Project and became a new Transmission-Owning member of MISO. The project – a 31-mile, 345 kV line spanning between southern Indiana and northern Kentucky – was the first project in the MISO footprint eligible for competition under FERC Order 1000.

“New Transmission-Owning members bring diversity to our footprint and the competitive transmission process allows us to work with our members to identify projects that create value for the entire bulk electric system,” said Aubrey Johnson, Executive Director of Systems Planning and Competitive Transmission. “Our existing member companies collaborated with Republic and MISO to bring this project to fruition.”

MISO selected Republic Transmission for the Duff to Coleman project in December 2016, after completing a competitive process that determined Republic Transmission provided the highest degree of certainty, the lowest risk and top tier operations and maintenance. Republic Transmission is the first entity to implement a project in MISO with binding cost containment provisions, which include a cost cap below MISO’s original estimate, as well as a return on equity cap, equity percentage cap and a schedule guarantee.

The Duff to Coleman project was approved by MISO’s Board of Directors as part of the 2015 MISO Transmission Expansion Plan, which found that the project would strengthen the 345 kV backbone in the MISO Central Region and provide more than $1 billion in estimated benefits, far exceeding its cost. The project was originally scheduled for completion in January 2021, but Republic Transmission and MISO companies Vectren and Big Rivers were able to complete it over six months ahead of schedule.

“The culmination of this project and its transition into operations ahead of schedule and within our cost commitments demonstrates the benefits that can be realized by consumers through FERC Order 1000 competitive transmission processes,” said Paul Thessen, President of LS Power. “We appreciate the efforts of MISO, project participants Hoosier Energy and Big Rivers, and interconnecting transmission owner, Vectren, to make this project a success.”

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About MISO

Midcontinent Independent System Operator (MISO) is an independent, not-for-profit organization that delivers safe, cost-effective electric power across 15 U.S. states and the Canadian province of Manitoba.

MISO is committed to reliable, nondiscriminatory operation of the bulk power transmission system and collaborating with all stakeholders to create cost-effective and innovative solutions for our changing industry. MISO operates one of the world’s largest energy markets with more than $29 billion in annual gross market energy transactions.

About Republic Transmission

Republic Transmission is an LS Power company dedicated to delivering reliable and cost effective transmission infrastructure for the MISO region. LS Power is a leading developer, owner, and operator of electric transmission infrastructure and independent power generation projects throughout the United States. Hoosier Energy Rural Electric Cooperative, Inc. also has a minority ownership stake in Republic Transmission.

ABOUT LS POWER:

Founded in 1990, LS Power is a premier development, investment, and operating company focused on the North American power and energy infrastructure sector, with leading platforms across generation, transmission and energy transition solutions. Since inception, LS Power has developed or acquired 47,000 MW of power generation, including utility-scale solar, wind, hydro, battery energy storage, and natural gas-fired facilities. Additionally, LS Power Grid has built 780+ miles of high-voltage transmission, with 350+ miles and multiple grid infrastructure projects currently under construction or development. LS Power actively invests in and scales businesses that are accelerating the energy transition, including electric vehicle charging, demand response, microgrids, renewable fuels and waste-to-energy platforms. Over the years, LS Power has raised $54 billion in debt and equity capital to support North American infrastructure. For information, please visit www.LSPower.com.