News
November 17, 2024 Chicago Tribune: Sarah Moskowitz: ComEd’s coming spike in energy prices is an urgent call to us to move forward
Tribune readers got an unpleasant surprise recently: ComEd’s electric price is expected to spike next summer.
Unfortunately, this is no surprise to the Citizens Utility Board. We’re all too familiar with electric customers paying more because of a shadowy corporate entity called PJM Interconnection and the little-known electricity “capacity auction” it runs.
Tribune readers got an unpleasant surprise recently: ComEd’s electric price is expected to spike next summer.
Unfortunately, this is no surprise to the Citizens Utility Board. We’re all too familiar with electric customers paying more because of a shadowy corporate entity called PJM Interconnection and the little-known electricity “capacity auction” it runs.
November 8, 2024 CUB Blog: PJM’s gas track: what gives?
The nation’s largest power grid operator says it’s “fuel neutral” when considering energy resources, so why does PJM Interconnection appear to be showing so much love for dirty gas at the expense of wind and solar projects?
The nation’s largest power grid operator says it’s “fuel neutral” when considering energy resources, so why does PJM Interconnection appear to be showing so much love for dirty gas at the expense of wind and solar projects?
November 6, 2024 CUB Blog: PJM broke the capacity auction–but here’s how they can fix it
The electricity price for Illinois’ largest power utility, Commonwealth Edison, will go up significantly next summer because of a recent auction to secure reserve power. Grid operator PJM announced that its recent “capacity” auction sent prices skyrocketing from $28.92 per Megawatt-day to a record $269.92 per MW-day.
Why are the prices so high?
The electricity price for Illinois’ largest power utility, Commonwealth Edison, will go up significantly next summer because of a recent auction to secure reserve power. Grid operator PJM announced that its recent “capacity” auction sent prices skyrocketing from $28.92 per Megawatt-day to a record $269.92 per MW-day.
Why are the prices so high?
October 23, 2024 Chicago Sun-Times: Renewable energy projects need push from Illinois lawmakers
Illinois needs to energize the modernizing of its power supply for two reasons: helping the environment and saving customers money.
The ComEd power bills showing up in people’s mailboxes are likely to take a jump next June because of a record price spike in a so-called “capacity auction” announced on July 30, according to the Citizens Utility Board.
Illinois needs to energize the modernizing of its power supply for two reasons: helping the environment and saving customers money.
The ComEd power bills showing up in people’s mailboxes are likely to take a jump next June because of a record price spike in a so-called “capacity auction” announced on July 30, according to the Citizens Utility Board.
October 15, 2024 E&E News: PJM delays capacity auction amid market price controversy
“All signs indicate that if the December auction were to go forward as scheduled, ratepayers would pay astronomic prices for no benefit,” Clara Summers, who manages the Consumers for a Better Grid Campaign for the Citizens Utility Board of Illinois, said in an email. “We want to get back on schedule as soon as possible, but the market rules need to make sense first. PJM needs to fast-track reforms so price signals can reconnect with reality.”
The nation’s largest power market proposed to delay its planned December capacity market auction as it faces rising turmoil over the dramatic price spikes recorded at its last auction that critics contended were caused by skewed market rules.
“All signs indicate that if the December auction were to go forward as scheduled, ratepayers would pay astronomic prices for no benefit,” Clara Summers, who manages the Consumers for a Better Grid Campaign for the Citizens Utility Board of Illinois, said in an email. “We want to get back on schedule as soon as possible, but the market rules need to make sense first. PJM needs to fast-track reforms so price signals can reconnect with reality.”