U.S. Southeast Utility Giants To Create Real-Time Power Market

U.S. utility giants in the Southeast plan to create a real-time power market in an effort to reduce costs and add more renewable energy to the grid.

Companies including Southern Co., Dominion Energy Inc. and Duke Energy Corp. will ask the U.S. Federal Energy Regulatory Commission for approval to establish what they’re calling the Southeast Energy Exchange Market. The utilities, which deliver electricity to about 50 million people, plan to open the exchange as early as October, according to a statement Friday.

Utilities in the Southeast have long resisted forming competitive power markets, instead preferring a business model where ...