MISO Capacity Auction Results and What They Mean for Iowa Co-ops

MISO’s latest capacity auction cleared at prices that should get the attention of every cooperative power supply manager in Iowa and the Upper Midwest.

The headline numbers matter less than the trend. Capacity prices have moved in one direction for three consecutive cycles, and the structural drivers — coal retirements, load growth from data centers, and interconnection queue delays — aren’t going away. For cooperatives locked into all-requirements contracts with their G&T, the strategic question is straightforward: does your current power supply arrangement still serve your members’ interests over the next 10-15 years?

That’s not a question most co-op CEOs are equipped to answer alone. The contractual relationships are complex. The wholesale market dynamics require specialized knowledge. And the political dynamics within G&T governance structures make honest assessment difficult.

What we’re seeing is a growing number of distribution cooperatives quietly exploring their options. Not necessarily leaving their G&T — but wanting an independent evaluation of whether their current arrangement represents the best available deal for their members.

This is exactly the kind of strategic question that benefits from an outside perspective. Not a consultant who wants to sell you a new power supply contract, but an advisor who can help you evaluate your position clearly.

The next auction cycle will matter more than this one. Now is the time to understand your exposure.