Tag Archives: bailout

EXELON CLOSING TMI- NUCLEAR AGE ENDING

Exelon Announces TMI Closure – As the Nuclear Age Draws to an End

It’s not nearly as much ironic as it is emphatic that on the same day Exelon Corporation announced that it might close the economically unviable Three Mile Island 1 reactor in Pennsylvania, SCANA is reported to have suggested that it might only complete one of two “next-generation” reactors it had proposed for South Carolina.  Add to that the recent Westinghouse (and by extension, Toshiba) bankruptcy and the message is clear: nuclear of the past can’t compete in the present, and apparently has no future either.  In short – the Nuclear Age is over. Continue reading EXELON CLOSING TMI- NUCLEAR AGE ENDING

BEWARE THE NUCLEAR BAILOUTS – AND HUCKSTERS

An old Mark Twain adage states that a falsehood gets half-way around the world before Truth gets its boots on.  Its wisdom and accuracy is thoroughly proven – by the fact that Mark Twain was probably not the one who said this.marc twain

The wisdom of the adage has again been amply demonstrated by recent articles written by pro-nuclear advocates calling for the bailout of money-losing nuclear plants based on the dubious contention that they are needed to combat climate change.  Continue reading BEWARE THE NUCLEAR BAILOUTS – AND HUCKSTERS

PRESS RELEASE: “NO RATIONAL BASIS FOR EXELON NUCLEAR BAILOUT” NEIS CONTENDS

“NO RATIONAL BASIS FOR EXELON NUCLEAR BAILOUT” ENVIRO GROUP CONTENDS

35-year old environmental, safe-energy group sends strongly worded letter to legislators advising rejection of corporate “wealth transfer”

 CHICAGO–  In a strongly worded letter to state officials warning of “no rational basis for the Exelon nuclear bailout,” a 35-year old Illinois environmental organization today urged legislators to reject the proposed bailout.

Calling it “a ‘wealth transfer’ of billions of dollars from [Illinois] ratepayers to Exelon’s shareholders,” Nuclear Energy Information Service (NEIS) stated that, “this nuclear bailout is not defensible from an environmental, jobs, business or any other rational standard,” Continue reading PRESS RELEASE: “NO RATIONAL BASIS FOR EXELON NUCLEAR BAILOUT” NEIS CONTENDS

PRESS RELEASE-EXELON BILL IS CORPORATE WELFARE BAILOUT, NEIS CONTENDS

 

Exelon bill designed to bailout failing nuclear plants, transfer wealth, kill renewables, NEIS testifies

SPRINGFIELD, May 16, 2016— Nuclear Energy Information Service of Chicago testified today before the Illinois State Senate Energy and Public Utilities Committee that the new Exelon legislation amounted to a “corporate welfare bailout” designed to kill renewable energy and “transfer wealth from Illinois ratepayers to Exelon shareholders.”

Photo courtesy of US NRC
Clinton nucear plant. Photo courtesy of US NRC

Speaking at a Subject Matter hearing, NEIS Director David Kraft urged legislators to reject the flawed Exelon legislation – Amendment 3 to SB.1585, the so-called “Next Generation Energy Plan” – and fix the Renewable Energy Portfolio Standard (RPS) as soon as possible, and before considering any Exelon reactor bailout schemes. Continue reading PRESS RELEASE-EXELON BILL IS CORPORATE WELFARE BAILOUT, NEIS CONTENDS

PRESS RELEASE: WASHINGTON D.C. PSC REJECTS EXELON’S PROPOSED MERGER WITH PEPCO

Rejection a huge defeat for Exelon, and loss of a regulated market to abuse

CHICAGO—Exelon Corporation was handed a stunning defeat today when the Washington, D.C. Public Services Commission (PSC) rejected Exelon’s merger bid with East Coast utility PEPCO.

The rejection denies Exelon a sorely needed new market in a regulated environment to help prop up its failing and anachronistic business model.  Exelon’s nuclear fleet – the nation’s largest — has Continue reading PRESS RELEASE: WASHINGTON D.C. PSC REJECTS EXELON’S PROPOSED MERGER WITH PEPCO

PRESS RELEASE — THE END OF NUCLEAR POWER? — TESLA REVOLUTIONARY NEW BATTERY SINKS EXELON’S BOGUS ARGUMENTS, FORCES LEGISLATURE TO CHOOSE THE FUTURE OVER THE PAST

THE END OF NUCLEAR POWER? — TESLA REVOLUTIONARY NEW BATTERY SINKS EXELON’S BOGUS ARGUMENTS, FORCES LEGISLATURE TO CHOOSE THE FUTURE OVER THE PAST

CHICAGO-–  One Thursday April 30, Elon Musk of the TESLA Corporation announced the development of home and utility scale batteries that will revolutionize energy storage – and could effectively put an end to the specious argument nuclear industry

Arnie Gundersen speaking to an audience at Illinois Sierra Club, April 30, 2015
Arnie Gundersen speaking to an audience at Illinois Sierra Club, April 30, 2015

promoters use to justify their product: “what are we going to do when the sun doesn’t shine and wind doesn’t blow?”

The answer – nothing.  The energy WILL be stored safely and effectively. Continue reading PRESS RELEASE — THE END OF NUCLEAR POWER? — TESLA REVOLUTIONARY NEW BATTERY SINKS EXELON’S BOGUS ARGUMENTS, FORCES LEGISLATURE TO CHOOSE THE FUTURE OVER THE PAST

PRESS RELEASE: “Alms for Exelon” (faux-)fun(d)raiser Part 2: ‘Bake Sale against Bailouts’ at Exelon HQ  

CHICAGO-–  An organization conducting “Alms for Exelon” street fun(d)raisers for the self-proclaimed impoverished nuclear utility Exelon Corporation conducted the second of a series of street events in Chicago today: “Bake Sale against Bailouts.”

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NEIS supporters Linda Lewison (l) and Dr. Lora Chamberlain outside Exelon HQ during “Bake Sale against Exelon Bailouts!”

The purpose of the event, held outside Exelon’s Chicago   headquarters, is to call attention to Exelon’s demands for a financial bailout of unprofitable nuclear reactors in Illinois.  Radiation suit-clad volunteers ‘encouraged’ members of the public to make $25,000 donations to Exelon to ‘help keep the cost of Continue reading PRESS RELEASE: “Alms for Exelon” (faux-)fun(d)raiser Part 2: ‘Bake Sale against Bailouts’ at Exelon HQ  

EXELON LEGISLATION, FERC COMMENTS A “DECLARATION OF WAR” ON RENEWABLES AND EFFICIENCY, GROUP ASSERTS

CHICAGO—The release of its long-awaited bailout legislation, coupled with presentations made before the Federal Energy Regulatory Commission (FERC) last week add up to a declaration of war against renewables and energy efficiency by Exelon Corporation, a Chicago nuclear watchdog organization asserts.

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The Byron nuclear reactor station, threatened with closure according to Exelon.

“If it looks like a bailout, walks like a bailout, and quacks like a bailout – it’s a BAILOUT,” asserts David Kraft, Director of Nuclear Energy Information Service (NEIS) of Chicago.

“While maintaining a seemingly benign verbal patina in their legislation (SB 1585; HB 3293), the practical and functional implementation of both Exelon’s proposed legislation and its intentions presented to FERC last week would relegate renewable energy and energy efficiency to being bit players in Illinois’ energy mix,” states Kraft. Continue reading EXELON LEGISLATION, FERC COMMENTS A “DECLARATION OF WAR” ON RENEWABLES AND EFFICIENCY, GROUP ASSERTS

PRESS RELEASE: Exelon (faux-)fun(d)raiser ‘total failure,’ groups say

CHICAGO-–  An organization conducting an “alms for Exelon” street fun(d)raiser for the impoverished utility admits that the event was “a total failure.”image (4)

“To try to prevent Illinois ratepayers from having to fork over $580 million to bailout Exelon’s unprofitable reactors in Illinois, we had hoped to raise funds from individuals who ideologically support nuclear power,” says David Kraft, director of Nuclear Energy Information Service, referring to a Chicago City Club Luncheon featuring three pro-nuclear speakers from Exelon-funded front Continue reading PRESS RELEASE: Exelon (faux-)fun(d)raiser ‘total failure,’ groups say

PRESS RELEASE: “Polar-vortex resistant nuclear” not so “resistant” after all

“Polar-vortex resistant nuclear” not so “resistant” after all

 CHICAGO—Nuclear proponents like Exelon Corporation are quick to claim that nuclear power was “reliable energy” during last year’s “polar vortex” days compared to its fossil fuel rivals.snowflake2

It seems that crowing may have been premature.

The Pilgrim-1 nuclear reactor near Plymouth, MA, was closed today by the heavy snow storm buffeting the Northeast.

The reactor had already been reduced to 20% output as a “precaution” prior to the storm’s arrival when transmission lines connecting the reactor to the power grid failed.  This caused the Continue reading PRESS RELEASE: “Polar-vortex resistant nuclear” not so “resistant” after all