UPDATE: Exelon announced it has reached an agreement with Governor Rauner on the Future Energy Jobs Bill. According to a statement, the amendment “provides for an overall cost cap on all measures within the bill that will limit rate increases to all residential and business customers.”
Exelon says the measure has gained 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. The company goes on to say, “the revised proposal retains important provisions to preserve 4,200 jobs at Exelon’s Clinton and Quad Cities nuclear plants.”
SPRINGFIELD, Ill. (KWQC) – There appears to be an important agreement between Illinois Gov. Bruce Rauner and Exelon that ultimately would spare the Quad Cities nuclear plant from closing. Crane’s Chicago Business reports the governor and the energy company have agreed to a financial bailout.
Negotiations on a bill have been going on since lawmakers returned to Springfield for the Fall Veto Session. During that time, a bill to provide subsidies for nuclear energy was pared down. But not everyone is on board, especially since the plan will still come at a higher cost to ratepayers.
Last June, Exelon said the plants in Cordova and Clinton, Ill. are too expensive to operate in today’s energy market and without legislation to support nuclear power as a clean energy source, it would have to close the two plants.
The measure was discussed in a Senate committee hearing earlier Wednesday. KWQC’s Mark Stevens is in Springfield and is working to confirm the deal. Look for updates on KWQC-TV6 and KWQC.com