I’m writing in response to your July 15 editorial about my call for the Federal Energy Regulatory Commission to investigate the problems experienced in the Midwest electricity market during a recent heat wave.
Contrary to what your editorial implied, I am not advocating re-regulation of the electricity industry. I do believe we need to move beyond the heated rhetoric and shed more light on the electricity shortages and price gouging that occurred during the June heat wave. We also need to examine ways to eliminate obstacles to the transfer of power from one region to another during emergencies.
An investigation by FERC will allow us to understand what happened and what can be done to avoid similar problems in the future.
I also was surprised to see the Tribune suggest that more lawsuits are the best way to address defaults in electric power contracts and market abuse. It’s fine for lawyers to debate the fine points of contract law, but we need to ensure Illinois consumers have a reliable and affordable source of energy during emergencies.
Electricity shortages and price increases raise serious questions regarding the reliability of our nation’s power system. Electricity blackouts, particularly during weather emergencies, jeopardize public health and safety.
Disruptions in power supplies also impose significant costs on business and industry.
These are issues that warrant a closer look.
