Feds Examining Downstate Power Auction

(Springfield, IL) — Federal energy regulators are investigating to see if something was hinky about an electricity price auction this spring that sent some bills in Metro East and downstate soaring. The feds are looking at whether the grid operator known as MISO engaged in “market manipulation” in the auction for the price that power plants are paid to maintain the capacity needed during peak demands. The auction resulted in prices jumping about 30-percent for some southern Illinois customers.