Dive Brief:
- It is unclear if, how or when Exelon will get the backing it says it needs to keep three nuclear generating facilities running in Illinois, according to an article from Crain's Chicago Business.
- While the company had indicated it expected quick support for a proposal to charge hundreds of millions of dollars to keep the plants operating, reports indicate the Illinois legislature will not vote before autumn on the measure.
- Exelon had signaled it would need a decision earlier than that, or the plants would be shuttered, but there are signs the company and lawmakers are working to find a solution.
Dive Insight:
Will time run out on Exelon's nukes?
The utility had threatened to shutter three nuclear plants if lawmakers didn't support a proposal to keep the facilities operating — at an expense of about $300 million annually for six years, Crain's reports. But after a spike in reserve power prices at the Midcontinent ISO's auction, lawmakers are backing away from fast action.
"The issue may well spill over into the fall," a spokesman for House Speaker Michael Madigan told Crain's. That would appear to let the clock run out on the May 31 deadline by which Exelon indicated it would need legislation passed.
But the company is backing away from that hard stance, and Rep. Linda Chapa LaVia (D), issued a statement saying “the best way to move forward is to sit down with the parties most concerned about Illinois’ energy predicament to look at all angles and craft a broad omnibus bill. ... It looks like the Energy Committee may have to meet and organize hearings during the summer in order to come to an agreement."
Exelon operates six nuclear facilities in Illinois, but has indicated its facilities in Byron, Clinton and the Quad Cities are struggling to remain profitable.
