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When Exelon last week unveiled its new plan to preserve two Illinois nuclear plants at danger of closure, the company touted concessions to its traditional environmentalist adversaries, including $140 million in spending annually on new solar power projects in the state.
But when green groups and renewable power companies read the actual language of Exelon’s bill a few days later, it turned out the measure only would generate about $7 million a year. That would effectively kill Illinois’ clean-energy law, which has a goal of gradually boosting the state’s reliance on wind, solar and other renewable electricity sources over time.
Exelon acknowledged what environmentalists said about the bill language. But the company said that wasn’t its intention. The company said a drafting error was to blame.
The error, Exelon said in a statement, “already has been fixed to ensure all of (the bill’s) intended benefits, which includes $140 million in new funding for solar, solar rebates for customers and increased energy efficiency, are fully included. The reality is that changes to legislative language are a normal part of the process to make corrections and incorporate negotiated changes into a pending bill and we have submitted an amendment to correct the error.” […]
“This doesn’t give us confidence that Exelon has reversed its historic opposition to the renewable portfolio standard,” said Sarah Wochos, co-legislative director at the Chicago-based Environmental Law and Policy Center. “In a carefully crafted bill, it’s hard to believe that this latest attempt to eviscerate renewable funding was a two-page ‘drafting error.’” […]
And, even if one accepts Exelon’s explanation, the company’s bill doesn’t allow for funding via the state’s clean-energy law for new wind farms, said Seth Kaplan, EDP senior government affairs manager.
Ugh.
posted by Rich Miller
Thursday, May 12, 16 @ 9:19 am
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Previous Post: Rauner’s unpopular, but so are incumbent legislators
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Corporate fraud and malfeasance in order to gain corporate welfare.
Comment by Honeybear Thursday, May 12, 16 @ 9:22 am
Two pages plus $133 million short drafting error.
Comment by wordslinger Thursday, May 12, 16 @ 9:22 am
Exelon’s hypocrisy in blasting renewables:
http://www.exeloncorp.com/companies/exelon-generation/wind/Pages/default.aspx
http://www.exeloncorp.com/companies/exelon-generation/solar/Pages/default.aspx
Comment by Anon221 Thursday, May 12, 16 @ 9:25 am
Why doesn’t credibility matter anymore?
Comment by Henry Francis Thursday, May 12, 16 @ 9:27 am
Exelon tells wall street we’re very profitable. ..Exelon tells gullible legislature we’re losing money
Comment by Foster brooks Thursday, May 12, 16 @ 9:29 am
What ever happened to free enterprise? Snark.
Comment by Anonymous Thursday, May 12, 16 @ 9:33 am
Foster Brooks +1
Comment by JS Mill Thursday, May 12, 16 @ 9:48 am
Yeah, and 5 executives of the company made more in just bonuses last year than most state employees do in a year. Their salaries for 1 year I could possibly life the rest of my life on. And this doesn’t include stock options. Let me run out and find my tiny violin….
Comment by HangingOn Thursday, May 12, 16 @ 9:50 am
Math is hard
Comment by Minutiae Thursday, May 12, 16 @ 9:51 am
Henry Francis- in a book I am reading “Going Public” it has a maxim that I think is now totally valid. “Merit is (almost) meaningless”. It doesn’t matter anymore that an argument or bill is credible or has merit. Does the manipulation of power exist to bring it about. That’s all that matters. It is a real politik world, Machiavellian.
“The strong will do as they will and the weak will suffer what they must.”
Melian Dialogue- History of the Peloponnesian War by Thucydides
Comment by Honeybear Thursday, May 12, 16 @ 9:55 am
Should taxpayers negotiate some controls on executive compensation and shareholder returns when companies look to socialize their risks?
I think so.
Statutorily protected oligopolies and monopolies are very problematic.
http://www.nytimes.com/2016/04/18/opinion/robber-baron-recessions.html?_r=0
Comment by cdog Thursday, May 12, 16 @ 9:56 am
Once again those usurpers at LRB are throwing their own language in bills all willy-nilly and then filing the bill without giving it to the lobbyist first. Typical
Comment by anon Thursday, May 12, 16 @ 9:56 am
Or to quote a contemporary Oswego Willie, “71/36″
Comment by Honeybear Thursday, May 12, 16 @ 9:57 am
Exelon, Volkswagen, they all seem to make millions from “errors”.
Comment by DuPage Thursday, May 12, 16 @ 10:04 am
==Once again those usurpers at LRB==
Who knew we had our own little revolutionary force inside the Capitol?
Comment by Demoralized Thursday, May 12, 16 @ 10:12 am
Demoralized,
I remember seeing a “Down With The Capitol” sign in an office there once. They’re clearly a bunch of rabble-rousers responsible for ALL problems facing the GA. Stop blaming Rauner and/or Madigan for the budget impasse, everybody. They’re clearly not the problem
Comment by MissingG Thursday, May 12, 16 @ 10:24 am
“It doesn’t matter anymore that an argument or bill is credible or has merit. Does the manipulation of power exist to bring it about. That’s all that matters. It is a real politic world, Machiavellian.”
Honeybear +1.
Comment by Mama Thursday, May 12, 16 @ 10:24 am
the bigger ripoff is $140 million for solar and wind. they’ll never be cost effective, they’re unreliable, they require full capital investment for power production anyway since things can’t afford to shut down when the wind’s not blowing and the sun’s not shining, and efficient nuclear operation requires continuous base load operation. You can’t reduce power in them just because you’re forced to buy some overpriced solar or wind power from a farmer. The “green scam” costs a lot more than any Exelon exec get in bonuses. Where’s the justified outrage on THE GREENIES?
Comment by Zonker Thursday, May 12, 16 @ 10:33 am
Trust but verify. Thats why staff put in the hours they do.
If exelon found their “error” and fessed up immediately, that helps a little. If they were trying to sneak, not good.
Its common for a business or advocate to draft an amendment, but the sponsor is still responsible for accurate content.
Comment by Langhorne Thursday, May 12, 16 @ 10:34 am
Drafting errors do happen, everyone on this blog has made one at some point in their career. You copy/paste from the wrong document or wrong version. Nonetheless, you would think with the army of consultants, lawyers, and lobbyists someone would have caught it.
Comment by Just Me Thursday, May 12, 16 @ 10:43 am
A two page drafting error that occurs in more than one spot in the bill that effectively accomplished what they’ve been trying to do for years? Who you gonna believe, Exelon or your lying eyes? Give me a break. They got their hands caught in the cookie jar…again.
Comment by BEST Dave Thursday, May 12, 16 @ 11:31 am
I never believed power generation should be deregulated.
Some things really are natural monopolies.
Comment by Last Bull Moose Thursday, May 12, 16 @ 11:48 am
Seems like Homer Simpson is running more than their Nuke plant!
Comment by D.P.Gumby Thursday, May 12, 16 @ 1:15 pm