State Representative Mike Coffey has expressed concerns following a recent report from the Midcontinent Independent System Operator (MISO), which indicated a significant increase in capacity prices. According to the report, these prices have risen 22-fold, leading to expected electric bill increases of 18% to 22% for residential customers across Illinois.
Coffey attributed this outcome to “burdensome mandates of the Future Energy Jobs Act (FEJA) and the Climate and Equitable Jobs Act (CEJA), along with various supplemental measures.” He emphasized the need for immediate action to maintain a reliable, affordable, and secure energy grid for consumers, manufacturers, and energy providers.
The MISO report highlighted that these price levels are due to the withdrawal of coal-fired and other carbon-based electric generation sources. Additionally, remaining suppliers have improved their use of mathematical algorithms to maximize prices and profits. These developments have raised concerns about both affordability and long-term reliability of the electric grid.
Coffey warned that without grid stability, Illinois could suffer from policies that do not consider their impact on residents. He called on legislators to ensure energy demands are met by utilizing all available resources. “It’s obvious that current policies are not working,” he stated, noting that businesses and residents will continue facing rising prices unless action is taken.
As a co-sponsor of House Bill 4050, Coffey supports amending the Environmental Protection Act (EPA) to expand energy production. He has engaged with community leaders and stakeholders regarding concerns over diminishing energy independence in Illinois.
For further information, Rep. Coffey’s office can be contacted at 217-782-0053 or via email at [email protected].
Rep. Mike Coffey represents Illinois’ 95th House District, covering parts of Sangamon County including Springfield, Chatham, Rochester as well as areas in Macon and Christian Counties.
