Tag Archives: bailouts

PRESS STATEMENT: Legislature Should Oppose Exelon Bailout

Company seeks to scam EPA carbon rules to subsidize nuclear power in Illinois and nation

Exelon’s scheming to garner subsidies for unprofitable nuclear plants in Illinois uses the recent EPA carbon standards rule as a fig leaf for the enormous rip off it represents.  It should be opposed by the Legislature.

Exelon’s nuclear plants have been paid for numerous times over by ratepayers:  through the rate hikes that built them; through the estimated $6-$11 billion in “stranded costs” awarded them when Illinois went from a regulated to a market-based system; and in the $21 billion CUB reports these plants have earned Exelon in the last decade alone[1].    Continue reading PRESS STATEMENT: Legislature Should Oppose Exelon Bailout