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Exelon Generation

Illinois lawmakers are considering whether to approve an energy deal on behalf of Exelon. Without it, the power company says it will close nuclear plants in Clinton and the Quad Cities.

Exelon says there are about 1,500 workers between the two plants, plus thousands of other local jobs that would be affected. Vice President David Fine says the average ComEd residential customer would see her bill go up by less than 25 cents a month over the 10 years of the deal. "And in the first couple years," Fine says, "we anticipate there'll actually be a savings — a rate decrease."

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Gov. Bruce Rauner says he wants to protect all the jobs he can at Exelon nuclear plants in Clinton and the Quad Cities.  They're slated to close unless they get help from the state.

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A deal may keep Exelon’s Clinton and Quad Cities nuclear plants open for the foreseeable future. The company says it will shut down the plants unless lawmakers pass a bill allowing it to raise electricity rates.  

Fidel Marquez, an executive with Exelon subsidiary ComEd, believes the rate hike will save jobs and keep energy rates competitive.

"It's pretty Basic micro economics, that when you reduce the supply a significant amount, energy prices in the state will rise," he said.  

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Illinois lawmakers introduced an electricity rate increase meant to save two western Illinois nuclear power plants, and their associated jobs.  However, the measure is facing significant opposition.

Exelon, ComEd's parent company, says it's losing money on nuclear power plants in Clinton and the Quad Cities.  Critics say the measure is a bailout -- and the largest rate increase in Illinois history.   Lobbyist Dave Lundy urged lawmakers to reject the plan.

 

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The leader of Illinois' largest utility is appealing to lawmakers’ competitive spirits to get them on board with overhauling energy regulations.

ComEd CEO Ann Pramaggiore says many Fortune 500 companies have committed to meeting sustainable energy goals.

"No one has claimed this leadership mantle. New York is in the race. The big California cities are contenders as well. And while they have more technology than New York, their markets are no more robust. Clean energy leadership is Chicago’s for the taking,” Pramaggiore said.

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