Exelon CEO Warns Cleaning the Grid Needs Higher Power Bills
- Illinois regulators rejected firm’s spending plan in December
- Butler says transition needs alignment of policy, practice
Calvin Butler
Photographer: Christopher Goodney/BloombergThis article is for subscribers only.
Purging fossil fuels from the US grid is expensive, and pushback over rising customer utility bills risks slowing the transition toward renewable power, according to the head of one the largest US power companies.
“To clean the grid is going to cost money,” Exelon Corp. Chief Executive Officer Calvin Butler said in an interview Friday at Bloomberg’s headquarters in New York. “You’re going to have to build, strengthen and make the system more resilient because of climate change.”