FOR IMMEDIATE RELEASE
May 9, 2025
CONTACT: Rep. Mike Coffey | 217-782-0053
Rep. Mike Coffey Issues Statement Following Reports of Energy Rate Spikes
Springfield, IL…The new Midcontinent Independent System Operator (MISO) report spells out some bad news for Illinois consumers. State Representative Mike Coffey (R-Springfield) has major concerns about the recent results of MISO’s Annual Capacity Auction, which revealed a 22-fold increase in capacity prices. This surge is predicted to lead to electric bill increases of 18% to 22% for residential customers across the state.
“We predicted this would be the result from burdensome mandates of the Future Energy Jobs Act (FEJA) and the Climate and Equitable Jobs Act (CEJA), along with various supplemental measures,” said Coffey. “We need to take immediate action to ensure that our energy grid remains reliable, affordable, and secure for consumers, manufacturers, and energy providers.”
According to the report, these price levels reflect the continued withdrawal of coal-fired and other carbon-based electric generation from the supply picture of the central U.S. states, coupled with improved use of mathematical algorithms by the remaining suppliers to maximize their prices and profits.
These developments raise serious concerns about affordability and the long-term reliability of our electric grid.
“Without grid stability, there is no question that our state will suffer greatly from progressive policies that do not take into consideration the affects they have on everyday Illinoisans,” Coffey continued. “Legislators must take action to ensure energy demands are met by utilizing all the resources available. It’s obvious that current policies are not working and Illinois businesses and residents will continue to see prices rise if we do not act now.”
State Representative Mike Coffey Co-Sponsored House Bill 4050, a bill that would amend the Environmental Protection Act (EPA) to expand energy production. Coffey is a staunch advocate of lowering energy prices and has met with community leaders and stakeholders to discuss rising concerns about energy independence being reduced in Illinois.
For more information contact Rep. Coffey’s office at 217-782-0053 or [email protected].
Representative Mike Coffey serves the constituents of Illinois’ 95th House District that includes parts of Sangamon County, including portions of the City of Springfield and Villages of Chatham and Rochester as well as parts of Macon and Christian Counties.
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