Illinoisans are facing significant energy price increases this summer, according to a recent report from the Midcontinent Independent System Operator (MISO) the grid operator which posts prices for peak-load electrical supplies for most of Illinois.
MISO is projecting a large increase in capacity prices which will lead to electric bill increases of 18% to 22% for residential customers across the state during the hottest months of the year. Price increases like these place enormous burdens on Illinois residents and raise serious concerns when it comes to affordability and the reliability of our electrical grid.
The state needs a plan to address this problem. And soon.
That’s why I joined with the other Republicans on the House Energy and Environment committee in calling for our chairperson and vice chairperson to convene a hearing to review the state’s energy policy. This week we wrote to the chairperson requesting a hearing with policy experts, academic researchers and industry leaders to hear their testimony and to develop a plan to prevent or mitigate these price increases.
We hope to determine if current state policies – such as the 2021 energy bill signed by Governor Pritzker – are serving their intended purpose, or if changes are necessary to guarantee continued affordability, reliability and security of our electric grid for all its users.
This needs to happen soon, before the peak-use summer months. We are ready to work together proactively to address this challenge before it is too late.
