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.
“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.
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. Continue reading PRESS STATEMENT: Legislature Should Oppose Exelon Bailout→
The business press has announced that Exelon Corporation now considers the two Byron nuclear reactors south of Rockford as candidates for closure, joining a list that included the two old Quad Cities reactors, and the single Clinton reactor in central Illinois.