EPSA Official issues statement following FERC briefing.June 23, 2008 -
After the FERC briefing on the rising costs associated with existing and new power generation infrastructure, EPSA President and CEO John E. Shelk said that rising infrastructure costs underscore the importance of maintaining and increasing capacity from existing power plants, as well as building new capacity. Also, the economic realities discussed make it imperative to allow the Reliability Pricing Model in PJM and the Forward Capacity Market in New England to function as intended.
FERC Briefing Confirms Importance of Both Existing and New Generation to Reliability
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Electric Power Supply Association
1401 New York Avenue
Washington, DC, 20005-2110
Press release date: June 19, 2008
WASHINGTON, D.C. - The following statement was released by EPSA President and CEO John E. Shelk after the briefing at today's monthly meeting of the Federal Energy Regulatory Commission (FERC) on the rapidly rising costs associated with existing and new power generation infrastructure.
"Today's 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 today's 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 today make it imperative to allow the Reliability Pricing Model in PJM 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."
Contact: Daphne Magnuson
EPSA is the national trade association representing competitive power suppliers, including generators and marketers. These suppliers, who account for nearly 40 percent of the installed generating capacity in the United States, provide reliable and competitively priced electricity from environmentally responsible facilities serving global power markets. EPSA seeks to bring the benefits of competition to all power customers.