It was their primer. It was Gouge 101. Peace took the unusual step last June of personally urging the adoption of a much lower price cap by the board of the agency that makes last-minute power purchases to maintain the grid, the Independent System Operator. But the motion failed by a single vote. The consumer representative who cast the decisive vote against the lower cap resigned afterward with a blast at Peace, complaining of heavy-handed pressure.
Peace is unapologetic.
He believes that stronger action by the ISO last June would have sent a signal that might have discouraged market manipulation. The former ISO chairman, who represents generators, cited an ISO report attributing the price increase last May to the heat wave, power plant outages, less hydroelectric power and higher prices for the natural gas used by power plants. Why power prices remained at high levels and even soared last winter, instead of dropping as usual, is more difficult to explain. Ed Mendel is Capitol bureau chief for the Union-Tribune.