McLean County Times

Illinois residents are bracing for substantial energy price hikes this summer, as reported by the Midcontinent Independent System Operator (MISO). The grid operator, responsible for setting prices for peak-load electrical supplies across much of Illinois, forecasts a significant rise in capacity prices. This increase is expected to result in electric bill surges of 18% to 22% for residential customers during the hottest months.

The projected price increases pose considerable challenges to affordability and reliability of the electrical grid in Illinois. Addressing these concerns has become urgent.

A call for action has been made by Republicans on the House Energy and Environment Committee. They have requested that their chairperson and vice chairperson convene a hearing to review state energy policies. "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," reads their statement.

This week, they wrote to the chairperson requesting a hearing involving policy experts, academic researchers, and industry leaders. Their goal is to gather testimony and develop strategies to prevent or mitigate the anticipated price increases.

The aim is also to evaluate if current state policies, including the 2021 energy bill signed by Governor Pritzker, are achieving their goals or if modifications are needed. "We hope to determine if current state policies – such as the 2021 energy bill signed by Governor Pritzker – are serving their intended purpose," they stated.

Emphasizing urgency, they added, "This needs to happen soon, before the peak-use summer months." The committee expressed readiness to collaborate proactively on this issue before it escalates further.