Illinois Legislators, Community Leaders, Labor Reps & Exelon Urge Action on Bill to Preserve Low Carbon Electricity in Illinois
April 29 2015 - 4:30PM
Business Wire
Exelon and other supporters call for enactment
of HB 3293 before Illinois House Energy Committee
The Illinois General Assembly must enact legislation to create a
Low Carbon Portfolio Standard (LCPS) in the current session to
ensure that the state avoids the negative impacts of closing
nuclear energy plants on the economy, communities, jobs and the
environment, a broad group of state and local leaders told the
Illinois House Energy Committee at a subject matter hearing
today.
A January 2015 State of Illinois report found that closing the
three nuclear plants would cost the state $1.8 billion annually in
lost economic activity, up to $500 million annually in higher
energy costs, and as much as $1.1 billion annually due to increases
in carbon and other pollutants – as well as 8,000 Illinois
jobs.
“These are highly-skilled, good-paying, full-time, permanent
jobs,” said Terry McGoldrick, vice president and senior assistant
business manager of IBEW Local 15. “They won’t be easily replaced
soon, if ever, if we allow these nuclear plants to close through
inaction. But, as we stand here today, those plants and their jobs
are at risk.”
The LCPS proposed by House Bill 3293 has stronger consumer
protections than any other program to promote low carbon energy in
Illinois. It includes a 2.015 percent annual price cap that limits
the impact to about $2 per month for the average Illinois household
– significantly less than the increase customers would face if
nuclear plants close early. The LCPS also provides a rebate to
customers if wholesale power prices exceed a certain level.
“Illinois needs an all-of-the-above energy strategy like the
LCPS,” said Rep. Larry Walsh, Jr., D-Joliet. “It will retain and
grow jobs, contribute to a robust economy, reduce harmful air
emissions, grow renewable energy, and preserve our state’s existing
nuclear plants.”
It is critical that the General Assembly act on the Low Carbon
Portfolio Standard in the current legislative session, because the
decision to close nuclear plants cannot simply be reversed.
Illinois legislators cannot wait until the veto session in November
to act, because Exelon must make decisions about potential plant
closures earlier than that due to PJM requirements, Dominguez
added.
“These plants aren’t like cars, which can be shut off with the
turn of a key,” said Joseph Dominguez, Exelon’s executive vice
president of governmental and regulatory affairs and public policy.
“Once a plant closure has been announced, we immediately begin to
work toward shutting it down and cannot easily reverse course.
Notifications will be made to employees and federal regulators, and
the operating license will be relinquished.”
Dominguez also addressed inaccurate claims that the recent
capacity auction for MISO should prevent Clinton station from
closing. However, this is not supported by the facts.
“Exelon bid Clinton power station’s capacity into the auction as
a price taker, meaning we would accept the auction clearing price,”
Dominguez said. “Because much of the plant’s capacity was committed
in retail and wholesale transactions before the auction, we
realized about $13 million from the auction, not upwards of $50
million as some have speculated. This is not sufficient to make
Clinton power station profitable and reinforces the need for urgent
action by the legislature.”
“The time has come for action,” said Carolyn Peters, mayor of
Clinton, Ill., host community to Clinton Power Station, one of
three Illinois nuclear plants at risk of early closure. “The men
and women of the General Assembly who are tasked with safeguarding
our state’s future must act now to prevent the catastrophic
premature closure of our nuclear plants. I urge your strong support
of the Low Carbon Portfolio Standard.”
Learn more about Illinois’ nuclear energy facilities at
www.nuclearpowersillinois.com.
Exelon Corporation (NYSE: EXC) is the nation’s leading
competitive energy provider, with 2014 revenues of approximately
$27.4 billion. Headquartered in Chicago, Exelon does business in 48
states, the District of Columbia and Canada. Exelon is one of the
largest competitive U.S. power generators, with more than 32,000
megawatts of owned capacity comprising one of the nation’s cleanest
and lowest-cost power generation fleets. The company’s
Constellation business unit provides energy products and services
to more than 2.5 million residential, public sector and business
customers, including more than two-thirds of the Fortune 100.
Exelon’s utilities deliver electricity and natural gas to more than
7.8 million customers in central Maryland (BGE), northern Illinois
(ComEd) and southeastern Pennsylvania (PECO). Follow Exelon on
Twitter @Exelon.
Exelon CorporationPaul ElsbergCorporate
Communications312-394-7417paul.elsberg@exeloncorp.com
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