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Exelon makes another closure threat

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Illinois

Exelon’s Quad-Cities nuclear power plant could close on June 1, 2018, the company said in a release Friday announcing its first-quarter earnings.

Exelon said the Illinois Legislature must pass legislation that it says would level the energy playing field in the state in order for the plant to remain open beyond that date. Exelon said the plant also must clear an upcoming PJM capacity auction in order to remain viable.

In addition to the Quad-Cities plant, Exelon said the Clinton, Ill., nuclear plant would shut down on June 1, 2017, if the Legislature doesn’t act and the energy auction isn’t favorable.

On Thursday, Exelon presented legislation it wants the Legislature to pass. In its release Friday, the company said it need the Legislature to act by May 31 in order to avoid a shutdown of the two plants. The capacity auction results should be available by May 24, the release stated.

The company’s new bill is here.

* The Illinois Clean Jobs Coalition has been talking with Exelon about its new bill. Its response…

The Coalition has engaged in productive discussions with ComEd and Exelon Generation about legislation that achieves these goals. At this time, those discussions have not concluded, and we have not yet reached an agreement. We look forward to reviewing the details of this new proposal, and continuing discussions toward comprehensive energy legislation that achieves the goals of the Illinois Clean Jobs bill.

AARP Illinois and other groups, however, blasted away. Click here.

posted by Rich Miller
Friday, May 6, 16 @ 3:22 pm

Comments

Same old Exelon shakedown tactics, but with a twist this year:

They’re letting the state slide on its electric bills at facilities in its service area while at the same time they have their hands out.

Something particularly odious about that.

Anyone else who hadn’t paid their electric bill for 10 months would have been cut off long ago.

Comment by wordslinger Friday, May 6, 16 @ 4:14 pm
Exelon needs to go away from the Capitol and run their business. Put your hands back in your pockets. Go make good business decisions and run your operations in the most efficient way for your stockholders and leave the legislature alone.

Comment by Storm Cloud Friday, May 6, 16 @ 4:35 pm
I just don’t get the argument that rate payers should pay more for their electrical power so that the Quad Cities don’t lose 800 jobs or enviable EAV for property taxes. How is this any different than imposing a tax on Illinoisan and sending it directly to those towns that have nuclear plants?

Comment by TominChicago Friday, May 6, 16 @ 4:51 pm
This is a monstrously expensive bill with a large rate increase attached. Exelon, the company that has been shown to play fast and loose with its numbers time and time again (see our ad below in the CapFax blog today), would have you believe they can spend well over a billion dollars and it will only cost you $.25/month. Anyone who believes that hasn’t been in Springfield very long.

If Exelon gives notice to close the plants, a 90-180 day process begins in which the grid organizations determine if these plants are needed for reliability. If they do, the plants get their costs plus guaranteed profits and a “reliability must run” contract.

Comment by BEST Dave Friday, May 6, 16 @ 5:01 pm