Exelon Wins $235 Million-a-Year Nuclear Lifeline in Illinois
- Legislation secures payments for power from nuclear reactors
- Critics have called the legislation a bailout for Exelon
Exelon's Clinton Power Station in Clinton, Ill.
Photographer: John Dixon/The News-Gazette via APThis article is for subscribers only.
Exelon Corp.’s money-losing nuclear power plants in Illinois have won a $235 million-a-year lifeline from state lawmakers.
Legislation designed to rescue Exelon’s Quad Cities and Clinton reactors from shutdown was passed by the Illinois House and Senate late Thursday. The bill, which next goes to Republican Governor Bruce Rauner for approval, secures about $235 million annually for 10 years for the nuclear plants that generate zero-emissions electricity, based on Exelon’s estimates.