Recent electricity price spikes are painful reminders of the value that meaningful demandside responses could bring to the restructuring US electricity system. Review of the aggregate offers made by suppliers confirms that even a modest increase demand elasticity could dramatically reduce these extremes in price volatility. We submit that dramatically increased customer participation in these markets to enhance system reliability and reduce price volatility is sorely needed. Indeed, allowing customers to manage their loads in response to system conditions might be thought of as the ultimate reliability resource.