Exelon Mulls Closure of Unprofitable Quad Cities Nuke Plant
CHICAGO (AP) — Exelon Corp. has until Oct. 1 to decide if it'll close its unprofitable Quad Cities nuclear plant, and is still pushing state lawmakers for a fix.
The company says the two-reactor plant in northwestern Illinois is losing money because of high costs of moving electricity along transmission lines shared with wind power and increased competition from lower-cost natural gas-fired plants.
Exelon is asking legislators to approve a monthly surcharge on consumers' electricity bills that would generate about $300 million annually to help keep unprofitable plants open. Company officials say that's fair because renewable energy like wind and solar receive subsidies.
But opponents say Exelon is a profitable company and doesn't need a bailout for a few unprofitable plants. They say Illinois should concentrate on increasing the market for renewable energy and promoting energy efficiency programs.
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