Susan Davis: “for more than 12 months now, I have worked daily for my constituents in San Diego, the first in the Nation to be shocked…”

“for more than 12 months now, I have worked daily for my constituents in San Diego, the first in the Nation to be shocked by suddenly doubled and tripled electricity rates. From that time on, I have joined with my colleagues here in the Congress and in the State legislature and with the San Diego regional governments to get the Federal Energy Regulatory Commission to meet its mandate to require just and reasonable rates. We have repeatedly been rebuffed, rejected and disappointed by their responses. Although our efforts have moved from utter rejection to half-hearted measures to cap wholesale cost, they have failed to require that the industry charge rates that are just or reasonable. So it is way past Congress to act. All the Western States are affected. We must take charge and require that FERC assure that the charges for electricity are based on a standard that is simplicity itself. Does it not make sense to set prices based on the cost to produce the electricity, including fair acknowledgment of investments costs, plus a fair profit? That was the basis of charges for decades. The amendment before us does not set a cap on rates for new generating sources, so it does not discourage investment in new plants. And it sunsets at 18 months. It is what we need for the interim while we continue to add to the power plants that have gone into service this summer.”