* Steve Daniels at Crain’s…
The threat is explicit now.
Springfield will have to swallow hard and agree to legislation next spring to rescue Exelon’s financially ailing Illinois nuclear fleet despite the legal cloud enveloping the company, or the company will move to close plants. That was the message CEO Chris Crane delivered on a Halloween earnings call with analysts.
For good measure, he added a fourth plant to the three the company already has said are at risk of early closure.
Now in the crosshairs: Exelon’s LaSalle power station in addition to the previously identified Byron, Braidwood and Dresden plants. Two other Illinois nukes, Clinton and Quad Cities, already are benefiting from more than $200 million a year in ratepayer subsidies, enacted in the 2016 Future Energy Jobs Act.
Go read the rest. That company has the strongest sense of entitlement of any company in this state.
*** UPDATE *** From Gov. Pritzker’s communications director Emily Bittner…
If companies under a federal microscope believe it’s appropriate to make threats to get their way, they need to recalibrate their thinking and how they deal with this administration. The governor’s priority is to work with principled stakeholders on clean energy legislation that is above reproach.
Reeling from a federal investigation into Commonwealth Edison’s lobbying practices, a top Exelon official on Thursday downplayed the impact of the corruption probe and any possible fallout on Wall Street.
“We’re not passing judgment on [whether there] is anything legal or illegal in some of our past practices with contract lobbyists or consultants,” Exelon CEO Chris Crane told analysts during the company’s quarterly earnings call Thursday morning. “I don’t expect [the investigation] will impede our business at all going forward.” […]
Referring to “a lot of speculation in news articles” about the investigation, Crane said Thursday, “There’s things out there that people are speculating on that — they’re guessing, to say that the best.”
It’s unclear what Crane was referring to, and he did not offer any details or clarification.