WASHINGTON, DC - The Subcommittee on Energy, chaired by Rep. Fred Upton (R-MI), today announced two hearings as part of the committee’s new “Powering America" series. The “Powering America" series will provide committee members the opportunity to explore electricity markets, learn more about electricity generation, distribution, consumption, and the resiliency of the electric grid.
The first hearing entitled “Powering America: Examining the State of the Electric Industry through Market Participant Perspectives," is scheduled for Tuesday, July 18, 2017, at 10 a.m. in room 2123 of the Rayburn House Office Building. The next hearing entitled “Review of the Operation and Effectiveness of the Nation’s Wholesale Electricity Markets," will take place on Wednesday, July 26, 2017.
Today, the nation’s electricity industry is undergoing a period of transformation due to technological innovation and market competition. Next week’s hearing will provide members the opportunity to hear from various industry stakeholders regarding current issues and developments across the electricity sector including efforts to maintain grid reliability, transmission planning, and efforts to ensure electricity markets promote efficient outcomes.
On July 26, #SubEnergy will hear from all seven Regional Transmission Organizations (RTOs) and Independent Service Operators (ISOs) to get their take on the status of wholesale electricity markets. RTOs and ISOs oversee the nation’s wholesale electricity markers, managing the day-to-day operations of their respective transmission systems and offering a market to purchase products including energy, capacity, ancillary services, and financial transmission rights. These markets are vital to the nation’s ability to provide affordable, reliable electricity to consumers across the country.
“A reliable supply of electricity is vital to our nation’s security, economy, and our health and well-being," said Chairman Upton. “We must ensure the electricity system meets the demands of consumers back in Michigan and across the country now and in the years to come. This can only be achieved through a close examination of the structural, economic, and technological factors influencing the nation’s evolving electricity system. I’m looking forward to beginning this series of hearings and furthering our understanding of the very different ways of generating electricity, the changing market dynamics, and the roles states, RTOs/ISOs, and the federal government can play moving forward to ensure the continued reliability of the grid."
The Majority Memorandum, witness list, and witness testimony for the July 18 hearing will be available here as they are posted.as it becomes available.
