Passage of Future Energy Jobs Bill Boosts State Economy and Makes Illinois a Leader in Clean Energy
December 01 2016 - 08:01PM
Business Wire
Legislation that creates and saves thousands
of jobs now advances to Governor Rauner
Exelon Generation and ComEd today commended Illinois lawmakers
on the passage of the Future Energy Jobs Bill, which will maintain
Illinois’ competitive electric rates, preserve and create tens of
thousands of jobs and expand clean energy at a cost capped at 25
cents per month for the average ComEd residential customer. Both
the House and Senate approved the bill, and it now heads to
Governor Rauner. Once signed, the bill will take effect June 1,
2017.
The bill levels the playing field with solar and wind energy by
valuing the zero-carbon energy produced by the nuclear facilities.
Ninety percent of the zero-carbon energy produced in Illinois comes
from the state’s nuclear facilities.
The groundbreaking bill will help secure competitive electric
rates for Illinois homes and businesses, preserve and create
good-paying jobs and spur billions of dollars in investment in
clean energy and energy efficiency across the state.
The Future Energy Jobs Bill includes protections that limit the
impact of the legislation to all business classes at 1.3 percent
compared to their 2015 rates. It also will provide businesses
flexible options for capturing savings through expanded energy
efficiency initiatives. In addition, it maintains the $1.2 billion
in economic activity generated by the plants and prevents an
estimated $10 billion in increased costs associated with higher
carbon emissions had the plants closed.
“This forward-looking energy policy levels the playing field and
values all carbon-free energy equally, positions Illinois as a
national leader in advancing clean energy, and will provide a major
boost to the Illinois economy,” said Chris Crane, president and CEO
of Exelon. “This has always been first and foremost about doing the
right thing for our customers, the talented men and women who
operate the plants, and the communities we serve. Today marks a
significant victory for the state of Illinois, the families and
businesses that live and work here, and the health of our
environment. We encourage the Governor to swiftly sign the
legislation into law.”
The bill received broad support from more than 200 business,
labor, environmental, faith-based and other groups, including the
AFL-CIO, IBEW, Chicagoland Chamber of Commerce and Illinois Retail
Merchants Association. It also had support from members of the
Clean Jobs Coalition, including the Citizens Utility Board, Natural
Resources Defense Council, Sierra Club, Environmental Defense Fund
and others.
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.
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Exelon CorporationPaul
Adams410-470-4167paul.adams@constellation.com
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