A Chicago Tribune headline of Wednesday, April, 20, 2015, “Study: Exelon Aid Could Cost $1.6B”, told of an Exelon-backed bill, framed as supporting clean energy production, that could benefit Exelon’s nuclear plants, while costing ratepayers an additional $1.6 billion on their electric bills through 2021. The bill was cited as “a corporate bailout” by critics.
Fresh off a $2 billion profit in 2014, utility giant Exelon is attempting to strong-arm the Illinois legislature into placing new restrictions on lower-cost electricity competitors. If Illinois lawmakers don’t meet Exelon’s demands, it is threatening to shut down operations at three of its six Illinois nuclear power plants.
President Obama’s speech last week that re-emphasized his commitment to reduce US carbon dioxide emissions brought dismay to those who appreciate affordable energy, but it sparked a celebration among corporate types who have long sought caps and taxes on CO2.