Congressman Joe Kennedy warns of much higher energy costs in the near future.

Kennedy addressed members of the SouthCoast Development Partnership at UMass Law Friday morning, saying independent auctions for energy supplies have placed Southern New England behind the 8-ball, with speculators saying the area will not be able to address energy demands, causing rates to skyrocket in 2018. "I believe the system is broken. It's not keeping rates down for any of us. It's not incentivizing the right kind of energy innovation, and is leaving consumers without a voice, without a choice in that process," said Kennedy.

Kennedy adds his Fair Rates Act has received bipartisan support in Congress, but may not address the issue immediately.

He encourages communities throughout Southern New England to work together in establishing more renewable energy initiatives, which will help deflate rising energy prices.