PESP’s analysis featured in The American Prospect

A major new feature in The American Prospect, “Lightning in a Bottle,” highlights the growing national crisis around rising electricity costs and the weakened regulatory systems meant to protect households. The story underscores how investor-owned utilities and private equity firms are reshaping the energy landscape at a moment when demand is spiking and affordability is collapsing. This national conversation directly intersects with PESP’s work tracking private equity’s utility takeovers and documenting the risks these deals pose for ratepayers.

The Prospect’s piece—which also appears in the magazine’s December print edition—draws on PESP’s research and expert testimony to explain how Wall Street ownership structures drive up costs while reducing public accountability. Reporters covering this issue continue to turn to PESP to understand how utilities use debt, rate-setting rules, and regulatory capture to secure investor returns at the expense of consumers.

The American Prospect : “Lightning in a Bottle: Regulatory capture is at the root of the affordability crisis in electricity”

This major investigation examines how investor-owned utilities exploit a century-old regulatory model to push rate hikes, accelerate capital spending, and boost profits even as millions of Americans struggle to pay their power bills. The story spotlights Minnesota as a case study, including the state’s approval of BlackRock’s Global Infrastructure Partners acquiring ALLETE, the parent company of Minnesota Power.

PESP’s Climate and Energy Director Alissa Jean Schafer is quoted underscoring the long-term dangers of the takeover:

“Even with concessions made, the deal is still a bad deal for Minnesotans.”

PESP expert testimony is presented as a key counterweight to the deal’s supporters, placing PESP’s analysis at the center of the debate over how Wall Street ownership affects electricity affordability across the country.