October 01, 2014 9:10 AM ET

Electric Utilities

Company Overview of Midcontinent Independent System Operator, Inc.

Company Overview

Midcontinent Independent System Operator, Inc. provides transmission services to its members in North America. The company’s members primarily include owners of electric transmission facilities, as well as other participants in the electric energy market. Its members have approximately 65,800 miles of transmission lines and 201,390 megawatts of electric generation capacity. The company was formerly known as Midwest Independent Transmission System Operator, Inc. and changed its name to Midcontinent Independent System Operator, Inc. in April 2013. Midcontinent Independent System Operator, Inc. was founded in 1998 and is headquartered in Carmel, Indiana.

720 City Center Drive

Carmel, IN 46032

United States

Founded in 1998

Phone:

317-249-5400

Fax:

317-249-5910

Key Executives for Midcontinent Independent System Operator, Inc.

Chief Executive Officer
Chief Financial Officer and Vice President
Vice President
Chief of Staff and Vice President
President Emeritus and Director
Compensation as of Fiscal Year 2014.

Midcontinent Independent System Operator, Inc. Key Developments

The Midcontinent Independent System Operator, Inc. Breaks Ground on South Region Operations Center

The Midcontinent Independent System Operator, Inc. announced a regional operations center in Little Rock, Ark., signifying a continued commitment in the reliable delivery of least-cost energy to MISO members and their customers from the Great Lakes to the Gulf of Mexico. This action marks the next phase of the successful integration on Dec. 19, 2013, of the four-state electric grid spanning the southern region into MISO. Similar to the company's North Region Operations Center, the facility in Little Rock will serve as the command center for MISO's newly established South Region. MISO expects to hire roughly 50 employees with an average yearly salary of $85,000 for various positions, including real-time operations, market operations, customer services, government and regulatory affairs, information technology and administrative support. MISO expects to spend $22 million on its new facility in West Little Rock. The building is scheduled to be completed by the end of 2014 with an employee move-in date scheduled in spring of 2015.

A Joint Complaint Filed with the Federal Energy Regulatory Commission against Midcontinent Independent System Operator, Inc., International Transmission Company, Michigan Electric Transmission Company, LLC and ITC Midwest LLC

On November 12, 2013, certain parties filed a joint complaint with the Federal Energy Regulatory Commission ("FERC") under Section 206 of the Federal Power Act against the Midcontinent Independent System Operator, Inc. and various MISO transmission owners, including ITC Holdings Corp.s operating subsidiaries, International Transmission Company, Michigan Electric Transmission Company, LLC, and ITC Midwest LLC. The joint complainants are seeking a FERC order reducing the 12.38% base return on equity used in the MISO transmission owners rates, including MISO Operating Subsidiaries formula transmission rates, to 9.15%; instituting a capital structure in which the assumed equity component does not exceed 50%; and eliminating the return on equity adders currently approved for being a member of a regional transmission organization (for ITCTransmission) and for being an independent transmission owner (for ITCTransmission and METC). In the event a refund is required upon resolution of the complaint, the joint complainants are seeking a refund effective date as of the filing date of the complaint.

Federal Energy Regulatory Commission Issues Order to MidContinent Independent System Operator, Inc on Proposed Revisions to Withholding Thresholds and Reference Levels

On March 20, 2013, Michael L. Kessler, submitted, on behalf of the MidContinent Independent System Operator, Inc, proposed revisions to section 64.1.2 (Thresholds for Identifying Economic Withholding) and section 64.1.4 (Reference Levels) of MISO's Open Access Transmission, Energy and Operating Reserve Markets Tariff (tariff). The proposed revisions subject Zonal Resource Credit Offers to an economic withholding threshold based on the applicable Reference Level plus 10% of the Cost of New Entry value for the Local Resource Zone. Waiver of the 60-day prior notice requirement is granted pursuant to section 35.11 of the Commission's regulations. The tariff records are accepted effective March 26, 2013, as requested. The filing was noticed on March 21, 2013, with interventions and protests due on or before April 10, 2013. No adverse comments were filed. Notices of intervention and unopposed timely filed motions to intervene are granted pursuant to the operation of Rule 214 of the Commission's Rules of Practice and Procedure (18 C.F.R. section 385.214). Any opposed or untimely filed motion to intervene is governed by the provisions of Rule 214. This action does not constitute approval of any service, rate, charge, classification, or any rule, regulation, contract, or practice affecting such rate or service provided for in the filed documents; nor shall such action be deemed as recognition of any claimed contractual right or obligation affecting or relating to such service or rate; and such action is without prejudice to any findings or orders which have been or may hereafter be made by the Commission in any proceeding now pending or hereafter instituted by or against any of the applicant(s). This action is taken pursuant to authority delegated to the Director, Division of Electric Power Regulation-Central, under 18 C.F.R. section 375.307. This order constitutes final agency action. Requests for rehearing by the Federal Energy Regulatory Commission may be filed within 30 days of the date of issuance of this order, pursuant to 18 C.F.R. section 385.713.

Similar Private Companies By Industry

Company Name Region
Northeast Generation Services Company, Inc. United States
Midland Cogeneration Venture Limited Partnership United States
TXU Energy Services Co., LLC United States
AES Trust IX United States
Wild Rice Electric Cooperative Inc. United States

Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
 

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
NYC2012, Inc. United States
Lawyers Committee for Civil Rights Under Law United States
Bertelsmann AG Europe
Rush University United States
Greater Houston Partnership United States

Sponsored Financial Commentaries

Sponsored Links

Report Data Issue

To contact Midcontinent Independent System Operator, Inc., please visit www.midwestiso.org. Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.