Beginning around June 2005, prices in the PJM day-ahead locational market pricing energy markets and real-time pricing markets rose precipitously. Based on publicly available information, our study concludes that these price increases are not fully explained by higher loads and higher commodity fuel prices. Could higher energy prices be the result of the inappropriate exercise of market power rather than the appropriate result of market dynamics operating in the presence of scarcity?

Forget the mega merger as a means to acquire new power plants. FERC’s new rules may offer a better path.

The industry perceives substantial benefits from consolidating. But what is the track record? Does the regulatory and strategic landscape suggest these mergers are beneficial?

The ability to provide reliable capacity is becoming both riskier and more costly to society and investors alike.

“I think it is my job as a leader to make sure that our values are always lived up to even when [they] conflict necessarily with our vision. That is what people look for at the end of the day. A leader’s role above all else is to make sure the truth is respected.”

“I think in our business, meeting higher customer expectations and staying focused on that all of the time will ultimately serve your shareholders.”

“Any leader who thinks their job is only about articulating a grand vision is sadly mistaken. Success is 20 percent planning, 60 percent execution, and 20 percent luck.”

“The nature of a leader is that they set targets that you can’t accomplish by extending a ruler over the past track record in getting there.”

“Leadership is the recognition that we are fiduciaries of the customer’s dollars and we have to be as efficient as we possibly can be because it is their money and not ours.”

Fortnightly speaks to five CEOs who exemplify industry leadership: David L. Sokol, MidAmerican Energy Holdings Co.; Peter A. Darbee, PG&E Corp.; Jeff Sterba, PNM Resources; Peggy Fowler, Portland General Electric; and J. Wayne Leonard, Entergy.