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Last year, Exelon claimed they needed a $300 million bailout spread across six plants.  This year, their new bailout plan calls for…wait for it…$250 million for only two plants (Crain’s: Ratepayers could be on hook for $250 Million for Exelon’s nukes).

Wait. What?

As Crain’s said this morning: “That’s total revenue of $250 million, not far from the $290 million last year’s bill would have generated for all of Exelon’s nukes.”

 Last year they said Clinton and Quad Cities’ share of the bailout (about $70 million), would keep those plants running for at least five years. Now, instead of $70 million, those two plants need $250 million. Are you kidding me?

 So let’s review.  In just three weeks, Exelon is caught deceiving lawmakers - pleading poverty as they bragged to Wall Street.  Then they’re caught again –  zeroing out RPS funding even as they claimed to be fixing RPS funding.  And now, their ask for just these two plants has more than quadrupled.

But wait, there’s more.  This bill guarantees that ratepayers will pay Exelon – a company that made more than $2 billion last year - huge profits (estimated at $110 million by Crain’s). 

The company defended this by saying “Exelon is a business, and like any business, it must sufficiently cover its costs and provide a return on capital investment that fully reflects business risks,”

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.