In the gospel for Trinity V from St. Luke 5, Simon Peter reacts to Jesus' miracle of the great catch with fear. His fear is two-sided. Peter recognizes his own sinfulness before Jesus. Peter also recognizes the overwhelming power of God at work in Jesus. Such fear is both a natural reaction and a religious virtue.
Unfortunately, many well-intentioned modern Christians do not see the value of such fear. In several different Bible studies over the years, I have had pious church-goers argue against the value of holy fear. They claim that fear is just a hold-over from what they view as primitive Old Testament religion. They maintain that believers should always function at higher levels with values such as love, mercy, hope, confidence, peace, etc.
Such claims are based on high ideals, but they are not the whole truth. Although Christians know to look beyond Old Testament law, the Hebrew Scriptures still contain the same basic message as the New Testament. The fear of the Lord is still the beginning of knowledge and wisdom (Proverbs 1:7; 9:10; Psalm 111:10). As a human being, even the Messiah has an appropriate spirit of fear of the LORD (Isaiah 11:2). The fear of the Lord is one of the seven traditional gifts of the Holy Spirit. Such fear is reverence and awe, but it is more basic than some polite reverence or aesthetic awe. It is the natural and primal reaction of the fallen and finite human being before the righteous and infinite God.
Thus, Peter is right to have a holy fear of divine power at work in Jesus. And so should we. Holy fear is not the whole story. Hopefully, in our spiritual journey, we move into other reactions such as faith, hope and love. Yet, if an element of fear is not present in us, then we do not truly appreciate our own frailty and propensity toward sin or God's almighty and infinite holiness.