Major utility to close 2 nuclear power plants

Exelon Corp. said Thursday it will close two nuclear plants in Illinois because they are no longer profitable to operate.
The retirement of the Clinton and Quad Cities plants before their useful life is over will take nearly 3,000 megawatts of generating capacity offline, potentially making it harder for Illinois to meet its greenhouse gas reduction requirements under the federal Clean Power Plan.
Exelon specifically blamed Illinois’s Legislature for the closings, saying legislation that’s been under consideration but hasn’t passed would have made keeping the plants open more feasible.
“This is an extremely difficult day for the 1,500 employees who operate these plants safely and reliably every day, and the communities that depend on them for support,” Chris Crane, Exelon’s president, said in a statement.
“We have worked for several years to find a sustainable path forward in consultation with federal regulators, market operators, state policymakers, plant community leaders, labor and business leaders, as well as environmental groups and other stakeholders,” he said. “Unfortunately, legislation was not passed, and now we are forced to retire the plants.”
Its difficult to find good news to report in this sector, but this situation cannot go on forever.
If you would like to know which stocks we are buying and selling please join us at ‘Stock Trader’ our premium investment service.
Subscribe for 12 months with recurring billing - $199
Buy 12 months of subscription time - $199
If you are new to investment in the precious metals sector then you can subscribe of our FREE newsletters regarding gold stocks, silver stocks and uranium stocks, just click on the links and enter your email address and we will email you our articles along with other interesting posts.
Please remember to check your spam folder once you have subscribed to ensure that our verification email has not gone astray and you are getting our emails.
Winners of the GoldDrivers Stock Picking Competition 2007
Follow us on TWITTER @goldprices
Reader Comments