Lawmakers face Exelon energy plan, dubbed as ‘bailout’
SPRINGFIELD, Ill. (AP) — A massive forward-looking energy plan pushed by Exelon Corp. and dubbed as a multibillion-dollar bailout for two unprofitable nuclear plants could land on Illinois legislators’ desks this week.
Exelon has been pushing for years for subsidies to reward its nuclear power plants for their production of energy without emitting harmful greenhouse gases. Without the money, the company says it will have to shut its plants in Clinton and the Quad Cities.
But consumer groups like BEST Coalition say Illinois already produces more power than it uses and the incentive payments would amount to a $16 billion bailout over 23 years and subsidize users of Illinois-produced power in other states.
Environmentalists applaud proposal for vastly expanding Illinois’ energy-efficiency programs that would save ratepayers $7 billion..