Illinois AG Seeks Order Requiring Capacity Supplier To Refund $428 Million To Customers
Do you remember 2015?
The State of Illinois does. They claim wholesale power generator Dynegy manipulated the entire Mid-Atlantic energy marketplace. Illinois is claiming over $428 million in overcharges as a result.
The issue revolves around a bid for power supply conducted in April of 2015 which resulted in a large price increase. The bid process (from a newly created department in Illinois at the time) has been blamed along with the response by power generators.
The large concern is that power markets cannot be manipulated by any single supplier. The federal government overseeing the involvement of the Illinois Attorney General pursuing this matter shows the staying power and time frame required to review such large and complex markets. However, it also underscores that establishing fair market rules is critical. Oversight should include ensuring that entities requesting bids understand the dynamics of the market.
Realgy Energy Services is a registered Retail Energy Marketer in the states of Illinois, Michigan, Indiana and Ohio. We offer Service Plans that will provide electric and natural gas at wholesale pricing direct to customers without any utility markup. Our Service Plans work with the local utility to provide seamless service and annual energy savings. Service Plans include Guaranteed SavingsTM, ManagedPriceTM, ManagedGreenTM Index, Fixed and PriceAssuranceTM.
Realgy owns and operates 7 solar plants in Illinois and is looking to invest in additional locations.
Additional Information: Illinois AG Seeks Order Requiring Capacity Supplier To Refund $428 Million To Customers — EnergyChoiceMatters.com
Natural gas spikes during winter storm and regulatory commission wont require disclosure of pricing
The Polar Vortex of February 2021 sparked numerous lawsuits and multiple investigations at nearly every Government level. Consider Kansas.
The Kansas Attorney General is investigating the price spike and looking to enforce the states prohibition against anti-profiteering law.
However, the Kansas Corporation Commission (oversees regulatory matters) denied two motions of the anti-profiteering investigation.
Consider this statement from an oversight commission whose job includes ensuring open and fair price disclosure.
The commission said the consumer coalition “has not demonstrated that disclosure will benefit the public interest,” and release of the proprietary information has “great potential to harm current and future Kansas natural gas customers through higher purchased gas costs. A general argument in favor of transparency cannot outweigh this very real harm to customers.”
Yes, the commission responsible for regulatory oversight has said disclosure of pricing during the polar vortex COULD HARM customers. Mind you, the pricing has already been paid and this request is to see what contributed to the higher prices.
The principal role of a utility oversight board is to investigate pricing. Kansas Corporation Commission appears to stand alone in not wanting disclosure.
Realgy Energy Services is a registered Retail Energy Marketer in the states of Illinois, Michigan, Indiana and Ohio. We offer Service Plans that will provide electric and natural gas at wholesale pricing direct to customers without any utility markup. Our Service Plans work with the local utility to provide seamless service and annual energy savings. Service Plans include Guaranteed SavingsTM, ManagedPriceTM, ManagedGreenTM Index, Fixed and PriceAssuranceTM.
Realgy owns and operates 7 solar plants in Illinois and is looking to invest in additional locations.
Additional Information: Kansas AG says winter storm natural gas prices appear illegal (salina.com)