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A $650 Million Day for Exelon

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The 2018-2019 PJM Capacity Auction Cleared far higher than analysts expected resulting in as much as $650 million total capacity revenue for Exelon. Here are the highlights:

$400 Million in ADDITIONAL REVENUE for Exelon – Exelon received a HUGE windfall. According to the Chicago Tribune, Exelon will receive “roughly $400 million in additional revenue” over the previous year. Exelon VP Joe Dominquez characterized this massive cash bonanza as “a marginal improvement…”
Byron Cleared the Auction – Will Run Through At Least May 2019 – Byron is now obligated to run until May 31, 2019. According to Crain’s, Byron, which Exelon characterized as troubled just weeks ago, now “…stands to reap profits of around $26 million even if future energy prices remain this low.”
Had Quad Cities Cleared, It Could Have Made More Than $100 Million – Had Exelon bid at the level they did in the 2016-2017 auction, Quad Cities would have likely received upwards of $100 million in revenue for that year.

BUT THAT’S NOT ALL:

Additional Auction Revenues Coming – On August 31 and September 9th, PJM will announce the results of two additional auctions which are expected to generate hundreds of millions in additional revenue beginning June 2016.

As social service providers are being decimated and legislators are forced to make increasingly painful choices, it’s time for Exelon to stop asking policy makers for $1.6 billion 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.

Capitol Fax.com - Your Illinois News Radar

A $650 Million Day for Exelon

Just Say “NO” to the Exelon Bailout

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