High energy prices spark discussions about market reforms

Published: Feb. 22, 2023 at 1:12 AM CST
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SPRINGFIELD (25 News Now) - The high price of energy brought two legislative committees together on Tuesday.

Leaders from Ameren and the Illinois Commerce Commission shared their knowledge of energy markets and regulations with the Public Utilities and Energy and Environmental panels.

They discussed how energy is created, transmitted and delivered. After almost an hour of testimony, lawmakers asked what can be done to ensure affordable power.

“We understand there is a shortfall now. The future is uncertain. Under certain circumstances, there is a continued or even greater shortfall projected, but that doesn’t have to be, " said Jim Zolnierek, who is the Commerce Commission’s Public Utilities bureau chief.

“Certain market reforms, if plans respond to prices, then we might see that gap being filled, and if it isn’t, we’re looking at other options as well,” Zolnierek said.

One of the suggestions was to create space on a public website to allow anyone to see market trends and how Illinois’ electricity rates compare to other states.