Clinton Power Station is one of three nuclear plants Exelon is threatening to close. (Photo courtesy Exelon)
By John Greory/Illinois Radio Network
CHICAGO – Exelon nuclear power plants want to be credited as clean energy in order to avoid closing.
New legislation would require utilities to reward producers of low carbon energy, including nuclear power plants. Several groups have labeled it a bailout for Exelon’s unprofitable nuclear plants in Clinton, Byron, and Cordova, but Joe Dominguez, Exelon’s senior vice president of public policy, argues it creates fairer competition with other energy sources rewarded for being environmentally friendly.
“Nuclear power has thus far been excluded from the programs that actually provide compensation for zero carbon electricity,” Dominguez said. “So it’s the exclusion from that playing field that has injured the economics of the plants.”
Dominguez admits the company itself is profitable, but three of its Illinois plants aren’t. He claims the Clinton facility alone lost $100 million in 2014.
The legislation, which creates the Low Carbon Portfolio Standard, would likely mean an increase in electricity rates by about 2 percent around the state for customers of ComEd or Ameren. It doesn’t apply to smaller electric co-ops or municipal utilities.
