What Isn’t Exelon Telling You about Its Corporate Bailout Legislation?
Thursday, May 28, 2015
[The following is a paid advertisement.]
Exelon is already getting bailed out by the PJM auction and doesn’t need legislators to vote for a rate increase to bail them out a second time
• Exelon will receive hundreds of millions in new annual revenue through a revised PJM electric grid auction to be held later this summer.
• Illinois ratepayers will be socked with a rate increase to pay for this new revenue.
Exelon is spending billions in other states – often in cash - so what are they planning to do with $1.6 billion from Illinois?
• Exelon is spending $6.8 billion IN CASH to purchase Pepco Holdings.
• Exelon is offering more than $180 million in refunds, job training and renewable energy programs to Maryland and D.C. ratepayers as part of the Pepco takeover.
Exelon opposes subsidies and above-market contracts — except when they’re for Exelon
• “We’re saying we don’t want to be subsidized and no one should be subsidized in the competitive markets…” Exelon CEO Chris Crane, 5/13/14
• “Exelon has long believed that there is no need to promote subsidies for proven technologies at any cost, nor for electricity consumers or taxpayers to pay more than required for a clean electricity supply.” – Exelon Website
Just say no to the Exelon Bailout. Vote No on SB 1585/HB 3293.
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.