Governor Rauner, Exelon Generation and ComEd Reach Accord on Historic Energy Bill
November 30 2016 - 4:38PM
Business Wire
Amendment to Future Energy Jobs Bill caps costs
for customers; creates and preserves thousands of jobs and advances
clean energy
Exelon Generation and ComEd today announced they have reached an
agreement with Governor Rauner on the Future Energy Jobs Bill,
which has been further enhanced with additional customer
protections, based on input from Governor Rauner’s office. The
amendment, filed today, provides for an overall cost cap on all
measures within the bill that will limit rate increases to all
residential and business customers.
The bill has gained broad support from more than 200 business,
labor, environmental, faith-based and other groups, including the
Chicagoland Chamber of Commerce and Illinois Retail Merchants
Association. It also has support from members of the Clean Jobs
Coalition, which includes the Citizens Utility Board, Natural
Resources Defense Council, Sierra Club, Environmental Defense Fund
and others.
“We thank and commend Governor Rauner and his professional staff
for their focus on increasing robust customer rate protections,
while maintaining the many benefits of this bill, including
preserving and creating jobs and providing a shot in the arm to
Illinois’ economy,” said Joe Dominguez, Exelon’s executive vice
president, Governmental and Regulatory Affairs and Public Policy.
“We will continue to work with legislative leaders and all
policymakers today and tomorrow to enact this urgently needed
legislation.”
“We have worked with many stakeholders including consumer
advocates, environmentalists, community leaders, among others to
ensure this bill has the best outcome for customers, our economy
and our environment and the communities we serve,” said Anne
Pramaggiore, president and CEO, ComEd. “We appreciate the strong
bipartisan support of members of the General Assembly, the four
caucus’ professional staff, the labor unions, members of the Clean
Jobs Coalition and other stakeholders who have helped us shape this
comprehensive energy package that will bring tremendous value to
our state and our customers.”
“We also want to commend Rob Karr, president and CEO of the
Illinois Retail Merchants Association, for negotiating a strong
package for his members,” Dominguez said.
The amendment includes protections that limit the impact of the
legislation to all business classes at 1.3 percent compared to
their 2015 rates and to cap the impact to residential customers at
25 cents per month for the average ComEd residential customer.
Ameren business and residential customers received similar
protections. The amendment already contained cost caps on key
components of the legislation, including energy efficiency, the
Renewable Portfolio Standard and the Zero Emission Standard. The
Senate Energy and Public Utilities Committee held a subject matter
hearing on the latest version of the bill earlier today.
The Future Energy Jobs Bill that will maintain Illinois’
competitive electric rates, preserve and create thousands of jobs
and expand clean energy at a cost substantially below 25 cents per
month for the average ComEd residential customer. In addition to
lowering costs, the legislation will jumpstart renewable energy
development, expand aid and job training to low-income residents
and support high-paying jobs.
The revised proposal retains important provisions to preserve
4,200 jobs at Exelon’s Clinton and Quad Cities nuclear plants,
support cleaner air, create thousands of new clean energy jobs by
advancing renewable energy development and providing businesses
flexible options for capturing savings through expanded energy
efficiency initiatives. It also prevents the loss of $1.2 billion
in economic activity generated by the plants and an estimated $10
billion in increased costs associated with higher carbon emissions
that would occur if the plants close. When all of the economic
impacts are calculated, benefits of the legislation far outweigh
costs.
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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