Waivers May be Necessary to Retain Directors Past Term Limits
[Editor’s Note: An earlier version of this article said Director Nancy Lange is serving her final term on MISO’s Board of Directors. Lange is actually eligible to serve a third term on the board after her current term expires in 2024.]
NEW ORLEANS — Todd Raba, chair of MISO’s Board of Directors, said last week that it may pursue special term waivers next year to enable term-limited members to continue providing guidance and avoiding their loss of institutional knowledge.
Raba said during the board’s March 23 meeting that more than half of the independent directors will reach term limits next year and could begin leaving the board.
Director Phyllis Currie said the board needs to be “intentional” about its succession planning to avoid gaps in expertise. She said she would like the board to conduct an annual, nonpublic discussion about the talents it needs.
MISO’s board consists of nine independent directors and the RTO’s CEO. The independent directors are limited to three three-year terms, but its bylaws allow some board members to serve an additional term under certain circumstances.
Currie and fellow directors Mark Johnson were re-elected to their final terms that began in 2022. They will hit their three-term limit at the end of 2024.
Raba, H.B. “Trip” Doggett and Barbara Krumsiek were also re-elected late last year. Their final terms conclude at the end of 2025.
Director Theresa Wise will be up for her third and final election at the end of the year for a term that runs into 2026. Director Robert Lurie is currently finishing out his first term and will be up for his second election. Lurie joined the board in 2020 to serve the one-year remainder of a former director’s term, which does not count against his three-term limit.
Nancy Lange will complete her second term at the end of 2024 and is eligible to serve a third term that would run through 2027. Jody Davids joined the board at the beginning of 2021.
MISO last used a waiver for board members in 2017, when it retained Baljit “Bal” Dail for an additional three-year term. Dail served 12 years on the board. (See MISO Board of Director Briefs: Dec. 10, 2020.)
Board Approves MISO-PJM Project
The board unanimously approved a targeted market efficiency project with PJM.
The $200,000 project will upgrade a wavetrap on the Powerton-Towerline 138-kV tie line in Ameren Illinois and ComEd territory. It is expected to produce more than $7 million in avoided congestion benefits over its first four years of operation. (See MISO, PJM Staffs Endorse 1 TMEP Joint Project.)
Project costs will be split 72% to PJM and 28% to MISO. Ameren Illinois’ transmission pricing zone will cover all of MISO’s $57,000 tab.
The PJM board has already authorized the project.
Budget Reflects Hiring Uptick
MISO CFO Melissa Brown said the grid operator is poised to exceed this year’s budget for new hires.
“That’s really great for MISO that we’re getting back to a pre-COVID level of employment,” she told board members.
Staff expects to spend about $2 million more than its allotted $310.5 million base expense budget.
Given recent bank collapses, staff reassured the board and stakeholders that MISO’s financial relationships are with large, secure institutions and said they don’t foresee any risk.
Membership Applications Approved
Directors unanimously approved two membership applications, allowing City Water and Light of Jonesboro, Ark., to join as a transmission owner and Invenergy Transmission as a non-transmission owning member.
Jonesboro was already a market participant but sought TO status after acquiring transmission facilities. Invenergy Transmission will become a competitive transmission developer within MISO.
