The Federal Energy Regulatory Commission has issued proposals intended to improve competition in electric power markets, but the attorney general isn’t happy with them.
In a written statement, Attorney General Richard Blumenthal called FERC’s proposals “a complex cruel joke, promising relief, but delivering nothing.” FERC claims the proposed rule changes will “ensure just and reasonable rate.”
A press release from FERC explained that the proposals address power shortages, long-term power contracting, market-monitoring policies and other issues, but Blumenthal says they offer only Band-aids to the massive problems that trouble power prices.
“My office will vigorously oppose these changes, arguing instead for wholesale reform eliminating irrational rules that drive prices skyward, allowing selected generators to profiteer,” Blumenthal said. The attorney general will fight on behalf of his reform proposals, which include the formation of a Connecticut Electric Authority that would purchase power and build its own selected electricity plants.
