Illinois Sees The Light -- Retains Nuclear Power
Sunday, December 4, 2016 at 04:56PM
Uranium Stocks

Last Thursday, December 1st, the Illinois State Legislature passed a measure that will allow continued operation of two of the state’s six nuclear power plants.

In a nail-biter more reminiscent of overtime at the Super Bowl, the Illinois State Legislature passed The Future Energy Jobs Bill (SB 2814) with less than an hour remaining in the legislative session. The bi-partisan bill allows Exelon’s Clinton and Quad Cities nuclear power plants to remain open, saving 4,200 jobs and over 22 billion kWhs of carbon-free power each year, more than all of the state’s renewables combined.

These two plants were in jeopardy of closing because even at a low cost of five cents or so per kWh, they were losing a combined $100 million per year because they could not compete with cheap natural gas and wind energy that is subsidized at 2.3¢/kWh. Illinois taxpayers subsidize solar energy at 21¢/kWh. This bill provides these nuclear plants with just 1¢/kWh, and only until market conditions change.

Exelon had drafted a press release announcing the closure of the two plants that was to be issued last night if the bill failed. Instead, these plants will be operating for at least another 10 years, producing over 200 billion kWhs of carbon-free energy.


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