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Exelon Energy News
Thursday, Apr 16, 2015 - Posted by Advertising Department [The following is a paid advertisement.] EXELON ENERGY NEWSHighlights1. Exelon Just Received Up To $58 Million in 2015 For Clinton Nuclear Plant 2. Clinton To Stay Open Through At Least May 2016 3. Byron and Quad Cities To Stay Open Through May 2017 MISO Grid Auction Results: Up To $58 million for ClintonA Good Day for Clinton:†On April 14th, the MISO Grid announced that auction prices in Illinois skyrocketed. The result? Clinton will earn as much as $58 million from ratepayers in ìcapacity revenueî starting June 1, 2015. The previous year, Clinton earned up to $6 million ñ an increase of $52 million. Clinton Stays Open Another Year:†Because Clinton cleared the auction, Exelon is obligated to keep Clinton open through at least May 31, 2016. PJM Grid Auction Delayed: Hundreds of Millions Still ExpectedAuction Process Delayed to Summer:†The PJM Grid auction results were expected to be announced May 22. Due to a Federal Energy Regulatory Commission administrative process, the auction has been delayed by a few weeks. Auction results are expected in late July or early August. Expected Results Unchanged:†Fortunately for Exelon, market analysts expect the results for Exelon to remain essentially the same. Exelon is expected to receive hundreds of millions in additional ratepayer dollars each year starting in 2016. Byron and Quad Cities Stay Open Until At Least May 2017:†Because Exelon previously successfully bid these plants into the PJM Grid auction, Exelon is obligated to keep them open through at least May 31, 2017. 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.
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Workers injured on the job deserve the right to reasonable compensation
Thursday, Apr 16, 2015 - Posted by Advertising Department [The following is a paid advertisement.] In 2011, at the strong request of business and insurance companies the Workers’ Compensation “Reform” package was signed into law, aimed at lowering costs for employers in Illinois. These changes have had a negative effect on workers in Illinois and their ability to receive fair and reasonable compensation when they are injured on the job and have not resulted in savings for employers in Illinois. According to a study done by the Oregon Department of Consumer and Business Services, Illinois had a 24 percent reduction in workers’ compensation rates between 2012 and 2014 – the steepest drop in the nation. This reduction should have resulted in a $1 billion savings in insurance premiums for Illinois employers. Tellingly, insurance companies have refused to reduce their premiums in response to their own industry’s recommendations. Cries from business interests for more so-called “reforms” will likely take away more rights from injured workers and increase the insurance industry’s profits. Any further changes in laws should instead look to promote insurance premium transparency and oversight – not further sacrifices by the injured worker. For more information about workers’ compensation in Illinois, click here.
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Setting the Record Straight on Illinois’ Nuclear Facilities
Thursday, Apr 16, 2015 - Posted by Advertising Department [The following is a paid advertisement.] Recently, ads on Capitol Fax have distorted the facts about the Illinois Low Carbon Portfolio Standard (SB 1585). Let’s set the record straight. Myth: “Exelon is profitable, so they don’t need more money to keep these plants open.” Fact: Much like a retail business with multiple stores, every location has to make money on its own. No retail chain could survive for long using profitable stores to keep unprofitable ones open. Exelon would not operate Plant A at a loss simply because Plant B is earning a profit. The fact is, three of Illinois’ six nuclear plants are at risk of closing, and the consequences of these closures are catastrophic:
• Nearly 8,000 jobs • Up to $500 million annually in higher energy costs statewide, according to a PJM analysis • $1.1 billion per year due to increases in carbon and other pollutants • Hundreds of millions of dollars to construct new transmission lines Only one legislative solution, the Illinois Low Carbon Portfolio Standard (LCPS), properly values all low-carbon sources of energy, including the state’s nuclear facilities. According to a State of Illinois report, the cost to Illinois of allowing nuclear plants to prematurely retire are as much as 12 times greater than the maximum cost of the Illinois LCPS. VOTE YES ON THE LOW CARBON PORTFOLIO STANDARD (SB 1585) Learn More: http://www.NuclearPowersIllinois.com
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