Illinois House and Senate pass Exelon subsidy plan

UPDATE: The bill passed the Illinois Senate just before 7 P.M. Thursday.

Illinois Governor Bruce Rauner release the following statement:

Gov. Bruce Rauner, (R) IL
Gov. Bruce Rauner, (R) IL

“For months our administration has been very clear that any energy legislation should follow the guiding principles of protecting jobs, ratepayers and taxpayers. After dozens of hours of good faith negotiations, we have reached an agreement that aligns with those principles. This legislation will save thousands of jobs. It protects ratepayers, through guaranteed caps, from large rate increases in years to come. It also ensures taxpayers are not on the hook to keep the power plants open and online. We thank the rank-and-file legislators and stakeholders for their perseverance and commitment to seeing this through. This process shows that when all parties are willing to negotiate in good faith, we can find agreement and move our state forward.”

 

 

Ameren Illinois President Richard J. Mark released the following statement:

Richard J. Mark, Ameren Illinois Chairman and President
Richard J. Mark, Ameren Illinois Chairman and President

“After intense negotiations, we are pleased to report that our fight to protect the interests of downstate customers was successful.  Senate Bill 2814 will enable Ameren Illinois to continue investing to strengthen the electric grid to improve service reliability and implement new energy efficiency programs.  Plus, it will keep two nuclear facilities operational, preserving more than 4,000 jobs and keeping energy supply costs lower.

From the first day this legislation was proposed, our singular focus was on ensuring that our customers weren’t unfairly saddled with higher monthly costs without the resulting benefits. What was once a proposed $2 per month bill increase is now a less than 12-cent per month increase and could result in a slight decrease in customer rates over the life of the plan.  As a result, we have an energy policy that will pave the way for Ameren Illinois to continue a world-class energy infrastructure modernization program for central and southern Illinois.

I want to thank the members of the General Assembly and the Governor for working with us to keep the interests of downstate customers in mind as this bill was negotiated.  No bill is perfect and not every stakeholder will be fully satisfied.  In the end, the opportunity to work with all parties to stabilize employment, bolster energy efficiency programs and continue improving system reliability made this legislation worthy of support.”

 

SPRINGFIELD, Ill. (AP) – Legislation worth hundreds of millions of dollars annually to energy giant Exelon Corp. has won Illinois House approval after more than two hours of floor debate.

The plan approved 63-38 Thursday would allow Exelon to support two nuclear-power plants – in Clinton and the Quad Cities – that are unprofitable and the company has threatened to close.

The legislation moves to the Senate on the General Assembly’s final day of session this year.

Proponents say it will cost consumers less than 25 cents a month in exchange for reliable power and saved jobs.

It provides $235 million a year to Exelon to keep open the plants. Environmentalists embrace it because it requires hundreds of millions of dollars in energy-efficiency programs to reduce usages.

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