Important Progress Achieved toward Comprehensive Energy Legislation to Strengthen Illinois’ Economy
November 16 2016 - 11:02AM
Business Wire
Legislation filed in Springfield, advancing
conversations among a broad group of stakeholders
Exelon Generation and ComEd today applauded the introduction in
the General Assembly of the Future Energy Jobs Bill – Senate Bill
2814 – noting that this is an important next step in the drive
toward passing urgently needed comprehensive energy legislation
that will strengthen Illinois’ economy and make Illinois a leader
in clean energy. The legislation reflects a diverse set of
interests, as well as agreement in important areas among
environmentalists, consumer advocates, community leaders and energy
companies who have worked over the last year-and-a-half to bring
together multiple previously introduced bills.
While further changes to the legislation are expected in the
days ahead, the current bill creates important benefits for
Illinois consumers, saving and creating tens of thousands of jobs,
doubling energy efficiency programs to create $4 billion in energy
savings, accelerating the development of renewable energy and
providing over $1 billion in low-income programs – all while
preserving competitive rates and preventing cost increases that
would come from plant closures.
A core feature of the legislation is the establishment of a Zero
Emission Standard (ZES) that will preserve the state’s at-risk
nuclear plants, saving 4,200 jobs, retaining $1.2 billion economic
activity annually and avoiding increases in energy costs. The ZES
protects consumers by requiring a full review of the nuclear
plants’ costs by state regulators and ensuring that only those at
risk of closing receive benefits. The ZES positions Illinois as one
of the first states to fully recognize the environmental benefits
of nuclear power, which provides more than 90 percent of Illinois’
zero-carbon energy and is the state’s most reliable energy
source.
The legislation is expected to result in a modest 25 cent
monthly increase on the average ComEd residential energy bill. The
cost of inaction is much higher: with no legislation, nuclear plant
closures would add up to $1.85 each month to the average ComEd
residential bill.
In addition to establishing the ZES and benefits listed above,
the legislation:
- Strengthens and expands the Renewable
Portfolio Standard to ensure stable, predictable funding for
renewable energy development, providing $180 million per year and
growing to $220 million per year
- Provides $500M in funding for
low-income solar and job training
- Prioritizes job training for
ex-offenders and former foster children, aspiring to achieve 2,000
clean jobs for those who struggle most to find employment
- Creates tens of thousands of new clean
energy jobs through expanded energy efficiency programs, energy
innovation and renewable energy
- Reduces the fixed customer charge for
energy delivery by 50 percent, giving customers more control over
their bills
Exelon announced in June that it plans to close its Quad Cities
Generating Station in Cordova, Ill., on June 1, 2018, and its
Clinton Power Station in Clinton, Ill., on June 1, 2017, despite
being two of the company’s best-performing plants. Absent
legislative action, the company will proceed with closing the
plants, resulting in job losses, higher consumer energy costs and
increased carbon emissions.
“Our communities cannot afford to lose 4,200 well-paying jobs,”
said Dean Apple, president of the International Brotherhood of
Electrical Workers Local 15. “Closing the Clinton and Quad Cities
nuclear plants will have devastating impacts, leading to a loss of
economic activity of more than $1.2 billion. This legislation will
preserve those jobs, while also spurring new clean energy jobs
through the advancement of renewable energy.”
“The Zero Emissions Standard is an innovative approach that will
preserve the state’s largest source of clean energy,” said Joe
Dominguez, Exelon’s executive vice president, Governmental and
Regulatory Affairs and Public Policy. “These plants are the
backbone of our energy supply, preventing significant carbon
emissions and serving as economic engines for the state and the
communities in which they operate. It’s critical that we come
together now to preserve and grow clean energy at the lowest cost
for Illinois consumers.”
“We’ve listened to and worked with key environmentalists,
consumer advocates, and community and faith leaders in developing
this legislation, with the shared goal of delivering policy
solutions that create innovative pathways to a sustainable future,”
said Fidel Marquez, senior vice president, government and external
affairs, ComEd. “We look forward to continuing to work with
stakeholders to refine and pass legislation that delivers so many
benefits for our consumers, economy and environment.”
For more information, visit futureenergyjobsbill.com.
Exelon Corporation (NYSE: EXC) is a Fortune 100 energy company
with the largest number of utility customers in the U.S. Exelon
does business in 48 states, the District of Columbia and Canada and
had 2015 revenue of $34.5 billion. Exelon’s six utilities deliver
electricity and natural gas to approximately 10 million customers
in Delaware, the District of Columbia, Illinois, Maryland, New
Jersey and Pennsylvania through its Atlantic City Electric, BGE,
ComEd, Delmarva Power, PECO and Pepco subsidiaries. Exelon is one
of the largest competitive U.S. power generators, with more than
32,700 megawatts of nuclear, gas, wind, solar and hydroelectric
generating 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
approximately 2.5 million residential, public sector and business
customers, including more than two-thirds of the Fortune 100.
Follow Exelon on Twitter @Exelon.
Commonwealth Edison Company (ComEd) is a unit of Chicago-based
Exelon Corporation (NYSE: EXC), the nation’s leading competitive
energy provider, with approximately 10 million customers. ComEd
provides service to approximately 3.8 million customers across
northern Illinois, or 70 percent of the state’s population. For
more information visit ComEd.com, and connect with the company on
Facebook, Twitter and YouTube.
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Exelon CorporationPaul AdamsCorporate
Communications410-470-4167paul.adams@constellation.com
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