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Friday
May012015

"Bill decried as Exelon bailout"

As reported by Jeffrey Tomich in Midwest Energy News, the Illinois Attorney General's office has blasted a bill that would bailout Exelon Nuclear at huge taxpayer expense as disruptive to the free market in electricity.

IL AG's office spokeswoman Cara Hendrickson was quoted as testifying to a State of IL legislative panel: “What this bill does is disrupt that market. It puts a thumb on the scales. Basically, it’s ‘Heads up, Exelon wins. Tails up, Exelon wins.’ That’s not a free market. It’s a bailout.”

She was joined in opposing Exelon Nuclear lobbyists' bail out bill by the likes of AARP and businesses that would be ruined by increased electricity bills. Exelon seeks $300 million per year in subsidies from IL ratepayers, in order to prop up five reactors at three nuclear power plants.

However, Entergy has stubbornly refused to open its books, to prove that it's allegedly uncompetitive nukes are even in trouble.