Are New Englanders being overcharged for electricity?

[unhappycamper]

http://www.bostonglobe.com/business/2016/03/15/markey-kennedy-push-for-scrutiny-region-electricity-market/CNhjQuv4Dx3GlkBqt7rqeO/story.html



Are New Englanders being overcharged for electricity?
By Jon Chesto Globe Staff
March 15, 2016

US Senator Edward Markey and US Representative Joseph P. Kennedy III say changes are needed to protect consumers from being overcharged as part of New England’s system for ensuring there is enough electricity during peak demand times.

Known as the forward capacity market, the auction system pays power plant owners for what is essentially an insurance policy to keep the lights on. The latest auction will cost ratepayers $3 billion.

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Markey and Kennedy also said they’re concerned that ISO New England, the regional power grid’s operator, underestimated the amount of solar energy that was built in Massachusetts and the full benefits of new transmission capacity in southern New England and Rhode Island. Those miscalculations, they said, could cost ratepayers extra money unnecessarily.

When spread across all of New England’s businesses and residents, the $3 billion charge will result in a modest increase in monthly electric bills. The exact amount is still unclear.

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Mass. people who use electricity are forced to pay for new gas lines.