Statement

 

FOR IMMEDIATE RELEASE

 Affordable Energy Coalition Formed To Keep Energy Prices Low For Consumers

 Proposed Federal Rule Would Raise Power Costs And Undermine The Competitive Market

 Washington, D.C., November 7, 2017 – Today marked the launch of the Affordable Energy Coalition (AEC), a group working to keep energy prices low for consumers. The coalition is urging the Federal Energy Regulatory Commission (FERC) to reject a proposed Department of Energy (DOE) rule that would reward power plants that can store 90 days’ worth of fuel. This proposal would unfairly subsidize nuclear and coal at the expense of other energy sources and raise costs for the public.

Since the comment period on the proposed rule opened, dozens of groups representing American consumers and businesses have come out in opposition. These include all six major electric grid operators regulated by FERC, the Attorneys General of states from Washington to Massachusetts, and trade groups representing both renewables and fossil fuels.

“It’s never a good idea for the government to impose higher energy costs on millions of consumers, but doing it just before winter is especially onerous,” said Michael Steel, a spokesman for the coalition. “The DOE’s proposal would undermine the competitive markets that have made electricity cheaper for millions of Americans and FERC should act quickly to reject it.”

If enacted, this proposal would:

  • Increase electricity costs by almost 10 percent in some areas
  • Increase electricity bills for at least 65 million Americans
  • Negatively affect consumers in more than a dozen states

Furthermore, recommendations to impose a temporary solution while the industry debates a permanent solution would:

  • Be a logistical nightmare for government and industry
  • Still increase prices for consumers with the expectation that they get repaid after the temporary solution ends

More information on the AEC is available at the coalition’s website:

www.affordableenergycoalition.com

###

Michael Steel

msteel@affordableenergycoalition.com

202-822-1205

 

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