CHICAGO - Governor Rod R. Blagojevich today appointed Mark Pruitt as the first Executive Director of the newly created Illinois Power Agency (IPA), effective April 21st. The electric rate relief legislation the governor signed into law last summer created the IPA, a new state agency charged with developing plans to ensure reliable, affordable and environmentally sustainable electricity supplies for ComEd and Ameren customers.
“Mark understands that Illinois consumers deserve the best possible prices on a necessity like electricity, especially now, when times are tough and families are finding it harder to make ends meet,” said Governor Blagojevich. “I'm very happy to have Mark on board. His practical industry expertise will be valuable as the new agency looks for innovative ways to stabilize energy prices and take full advantage of renewable energy resources to meet the energy demands of our dynamic economy.”
As Director of the IPA, Pruitt will develop and implement plans to purchase electricity for Illinois consumers that leverage Illinois' vast energy market potential. By coordinating energy demand with efficiency programs and renewable resources, the IPA will seek to stabilize electricity prices for Illinois consumers. Pruitt brings 15 years of experience in managing energy technology and commodity procurement to the position. Pruitt earned his BA in Political Science from Bradley University and his MBA from the University of Illinois.
Pruitt comes to the state from the University of Illinois at Chicago’s Energy Resources Center where he managed energy procurement for State agencies and local municipalities. Under his management, state agencies realized as much as a 29% savings over ComEd Edison and Ameren rates for electricity.
“I'm eager to begin working to address the challenges of meeting the state's evolving energy needs,” said Pruitt. “I am committed to taking advantage of all available tools to ensure that the people of Illinois get the best prices possible for the electricity they need to power their homes and businesses.”
Pruitt's appointment requires Senate confirmation.
In 2007, Governor Blagojevich signed legislation, Senate Bill 1592, which directed $1 billion in credits to electricity consumers across the state to help alleviate some of the burden of higher costs that came when utility and power companies began buying power through an auction process after a ten-year rate freeze expired at the beginning of that year. The new law eliminated the auction process and established the new Illinois Power Agency (IPA).
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