Exelon has warned that, without massive ratepayer subsidies, several of its age-degraded atomic reactors in Illinois could face permanet shutdown. But Exelon's intent to gouge ratepayers isn't limited to its home state of IL. It is attempting to takeover a major Mid-Atlantic regional electricity provider, Pepco, and gouge its ratepayers as well.
As reported by the Washington Post, the Cleveland-based Institute for Energy Economics and Financial Analysis has warned the Washington, D.C. Public Utility Commission against approving the Exelon Nuclear/Pepco merger, "in part because Exelon’s business model relies too heavily on an aging group of nuclear power plants."
In a bid to prop up its dirty, dangerous, and uncompetitive fleet of atomic reactors, Exelon would gouge Mid-Atlantic ratepayers on their electricity bills. At the same time, it would likely lobby to undermine progressive renewable power and energy efficiency strides already made in such places as Maryland and D.C.
The article reports:
“Exelon’s shaky financial position gives it an incentive to raise rates, as it has done four times with Baltimore Gas & Electric just since 2012,” Cathy Kunkel, an IEEFA Fellow and the lead author, wrote in an e-mail. “The merger would weaken D.C.’s control over its electric utility and jeopardize progress toward the city’s renewable energy goals.”