EPSA: FERC Briefing Confirms Importance of Both Existing, New Generation to Reliability

June 26, 2008 // Published as a news service by IHS

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The following statement was released by Electric Power Supply Association (EPSA) President and CEO John E. Shelk after a briefing from the Federal Energy Regulatory Commission (FERC) on the rapidly rising costs associated with existing and new power generation infrastructure:

"[This] sobering briefing was informative and should instruct critical decisions by federal and state policymakers.

"The country will need substantial investment in new power generation, along with demand response and efficiency measures, to reliably meet increased demand while achieving key environmental objectives.

"The rising infrastructure costs documented by [this] FERC briefing firmly underscore the fundamental importance of maintaining and increasing capacity from existing power plants, as well as building new capacity.

"The economic realities discussed...make it imperative to allow the Reliability Pricing Model in Pjm [Interconnection] and the Forward Capacity Market in New England to function as intended.

"Doing so will give owners of both existing and new generation the reason and the means to make expensive investments to get the most out of existing assets and support building new ones.

"A competitive wholesale marketplace that properly values capacity from all power generation sources in light of global economic realities will bring about the best mix of electricity for consumers in the most efficient and cost-effective manner achievable under these challenging cost conditions."

Source: Electric Power Supply Association (EPSA).

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EPSA: FERC Briefing Confirms Importance of Both Existing, New Generation to Reliability