Exelon has announced that it is considering closing two nuclear power stations in Illinois because they are no longer profitable.
The utility claims that the impact of natural gas on the electricity market has driven down the price of electricity so much that the nuclear power plants are no longer able to keep operating without financial losses.
In a last-ditch effort to keep the two nuclear facilities open, Exelon and ComEd are lobbying legislators to pass “the Exelon Bill” (SB-1585) which would subsidize the two plants by granting them a rate increase.
According to Exelon, in the last 6 years the Clinton and Quad Cities nuclear power plants have cost the utility over $800 million.
If the rate increase is not approved by May 31st – when Illinois legislature adjourns, and Exelon is unable to find any additional income, they may close the plants.
Illinois is a net exporter of electricity, even if the two nuclear power plants close it will not affect grid capacity or stability.