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Another Day. Another Auction. Another $275 Million For Exelon

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Exelon just received an additional $275 million from the PJM Capacity Auction process – this time for the 2016-2017 transitional auction. This comes on top of last week’s 2018-2019 PJM Capacity Auction which resulted in $650 million in total capacity revenue. As the Tribune reported, Exelon “lobbied hard for the new [auction] rules” and they are reaping the results. More highlights:

$675 Million REVENUE INCREASE for Exelon – Exelon is now approaching $1 BILLION dollars in additional revenue for its Illinois nuclear fleet, with one more auction coming September 9th.
Byron Cleared Both Auctions – Will Run Through At Least May 2019 –According to a Crain’s analysis, Byron, which Exelon characterized as troubled and in danger of closing just weeks ago, now “…stands to reap profits of around $26 million even if future energy prices remain this low.”
Quad Cities Cleared 2016-2017 Auction, Earning More Than $80 Million – Quad Cities cleared the 2016-2017 Auction, ensuring it will run through at least May, 2017. Perhaps Exelon should answer how it was able to offer and clear Quad Cities’ for a fraction of the price for the 2016-2017 auction, but couldn’t offer at the same price for 2018-2019. Is Quad Cities in danger of closing because Exelon chose a different bidding strategy?

Exelon ginned up the new rules and has now received its “market-based” bailout. It doesn’t need another $1.6 billion more from struggling ratepayers. Enough is enough.

Just Say “NO” to the Exelon Bailout

BEST Coalition is a 501C4 nonprofit group of dozens of business, consumer and government groups, as well as large and small businesses. Visit www.noexelonbailout.com.

posted by Advertising Department
Thursday, Sep 3, 15 @ 12:23 pm

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