Capitalism Will Win Over Government Intervention.
CAPITALism
In theory, markets (demand for a product along with price, service, and convenience) set the price. To operate efficiently, competition is required. Few markets face more competition than the power markets in the US.
Recently, the government has interfered with not only the theory, but the practice, of power markets. Examples include requiring certain power plants to continue to operate, requiring certain customers to receive wholesale power rates, or casting aside environmental or societal benefits to favor a different fuel.
However, as has been said, capitalism is the most powerful force ever unleashed.
In this current example, the government has dictated that coal plants continue to operate instead of retiring as planned. The result: power prices are staying high, and the expense of continued operation of these decrepit facilities is adding to electric price inflation. No investment is being made in them, rather just short-term fixes to meet the government demand to keep them operating.
Being displaced, as electric demand is being met by the coal plants, are numerous built and planned power plants that could operate at lower cost and with lower environmental impact (which is a cost).
The companies operating these coal plants are not confused. They understand it is a political action, which too shall pass.
Capitalism will win.
Realgy Energy Services is a registered Retail Energy Marketer serving commercial customers in the states of Illinois and Indiana. We offer Service Plans that provide electric and natural gas at wholesale pricing directly 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 Savings™, ManagedPrice™, ManagedGreen™ Index, Fixed, and PriceAssurance™.
Realgy owns and operates 11 solar plants in Illinois and is looking to invest in additional locations. Soon to be 12 with the inclusion of Highland Park’s newest recreation center, West Ridge Center,- New Community Recreation Facility Coming in 2026 | Park District of Highland Park
Additional Information:
Trump is keeping coal on life support. How long can it last? | Grist
With energy bill in limbo, Ill. braces for nuclear closure
The shutdown of some of the USA’s largest coal plants in Illinois, Byron and Prairie State has been the subject of scrutiny. The discussion on the future of power plants surrounds a recently passed energy and climate bill.
Many supporting the legislation want the state to buckle down on ending fossil fuel usage by 2045. However, the bill didn’t include specifics on lessening emissions for electric generation until then. Amendments are underway regarding requirements of plants to reduce emissions by 2035 to transition toward the 2045 goal. Illinois’ Clean Jobs Coalition and Governor Pritzker support these revisions but, challenges lie in the finances and logistics.
Clean Jobs Illinois questions how to ensure jobs aren’t lost from closures and redirection into renewable energy positions. While the state has pledged to preserve jobs and decrease emissions, studies show phasing out locations would cause other plants to make up for lost production bringing about additional emissions. They also claim Illinois will not see renewable energy developments for years unless there is legislative action.
Advocates state we don’t have time to allow these plants to run for even 5 more years let alone the suggested 25 years. However, incentive funding from the Future Energy Jobs Act has already been depleted and new projects are down 90% compared to the last year. This bill needs to see both sides come to a compromise to reach our energy goals.
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: https://www.eenews.net/articles/with-energy-bill-in-limbo-ill-braces-for-nuclear-closure/
Utilities to refund customer fees from tainted energy bill
Three Ohio Utilities of FirstEnergy; Ohio Edison, Cleveland Electric and Toledo Edison will refund customers $27,500,000.
This amount will vary by each utility as follows; $8.95 Ohio Edison, $13.19 Toledo Edison, and $16.18 Cleveland Electric.
The refunds stem from Ohio Attorney General Dave Yost in settling a lawsuit where the utilities over collected from January 2020 through February 2021. Ohio legislature passed a bill in March requiring the refund. In addition, the bill refunds a $1 billion bailout of the two nuclear plants operated by FirstEnergy. This action stems from the bribery scheme to get the bailout bill passed.
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:
Utilities to refund customers fees from tainted energy bill (apnews.com)
How misinformation propped up Ohio lawmakers’ latest attack on renewables | Energy News Network