DETROIT — MISO’s 2016 spending is in line with its budget for the year, Vice President of Finance Jo Biggers told the Board of Directors at the RTO’s Annual Meeting last week. Year-to-date expenses are $93.3 million, $300,000 under budget. The RTO was able to save about $700,000 with the renegotiated lease of its Carmel, Ind., building, among other factors, but spent an extra $400,000 on resource adequacy efforts, including capacity auction redesign and seasonal and locational constructs.

The RTO was allotted a $225 million operating budget in 2016. It currently expects to spend between $224.7 million and $225.5 million by the end of the year.

Biggers said that although MISO is $4.1 million under budget on capital expenses to date, it expects to spend most or all of the $31 million capital budget by year-end.

Board member Phyllis Currie said the board’s Audit and Finance Committee is considering whether the RTO should file for 501(c)(3) status. MISO is currently categorized as a 501(c)(4), a social welfare organization; 501(c)(3) status would designate it a charitable organization.

“Over time, we’ll look at the pros and cons. It’s a good time to take a look at this,” Currie said. MISO could benefit from tax-exempt status, especially when considering the amounts it may need to borrow over the next five years, she said.

Stakeholders Join Nominating Committee

Indiana Utility Regulatory Commissioner Angela Weber and Matt Brown, vice president of federal policy at Entergy Services, have joined MISO’s Nominating Committee, filling the two stakeholder vacancies, board member Michael Curran reported.

— Amanda Durish Cook