Exelon Generation and Commonwealth Edison announced Nov. 22 significant progress in Illinois toward achieving a streamlined version of the Future Energy Jobs Bill that will reduce costs and address feedback gathered from a broad cross-section of stakeholders since the bill was introduced and conditionally passed by a 9 to 1 vote at a recent Illinois House Energy Committee hearing.
The proposed changes maintain important provisions to boost the state’s economy, support low-income programs, preserve 4,200 jobs at Exelon’s Clinton and Quad Cities nuclear plants and create thousands of new clean energy jobs by advancing renewable energy development and expanding energy efficiency programs. They also reflect feedback received from the governor’s office, legislative staff and through continuing discussions and collaboration among environmental groups, renewable energy developers, faith organizations, consumer advocates, business groups, utilities, community leaders, policymakers and legislative staff, among others.
The two Exelon (NYSE: EXC) subsidiaries that that proposed changes include:
- Eliminating the demand based rates provision
- Eliminating the Fixed Resource Adequacy Plan, or FRAP, but reserving for discussion a proposal to achieve a solution sometime in the near future
- Ensuring that the Zero Emissions Standard proposal will preserve Exelon’s Illinois nuclear plants for at least 10 years and include even stronger consumer protections
- Reducing the number of proposed microgrids from five to three
- Expanding rebates for community solar, and commercial and industrial solar installations
ComEd and Exelon said they continue to address in earnest an open item of concern among some business community members about the impacts this legislation will have on competitive rates in Illinois.
“We have said from the beginning that we wanted the Future Energy Jobs Bill to bring diverse ideas and constituents together to arrive at a comprehensive plan to address the state’s complex energy and economic challenges,” said Joe Dominguez, Exelon’s executive vice president, Governmental and Regulatory Affairs and Public Policy. “In the past week, we have heard from groups and individuals representing a broad cross-section of interests. We have listened to what they had to say and have made changes to the bill based on their input. The proposals emerging today will strengthen Illinois’ commitment to clean energy, deliver billions of dollars in savings from energy efficiency, provide needed support for low-income residents, retain $1.2 billion in economic activity associated with the Quad Cities and Clinton nuclear plants and create thousands of jobs to support our economy.”
Said Fidel Marquez, senior vice president, government and external affairs, ComEd: “We’re encouraged by the progress we have made toward achieving a clean, reliable and affordable energy future for our customers. We look forward to continuing this work so that we can deliver innovative solutions that bring value to our customers, state, business community and environment.”
The legislation will continue to undergo revisions prior to the start of the Veto session, which begins Nov. 29. For more information, visit futureenergyjobsbill.com.
Exelon is a Fortune 100 energy company with the largest number of utility customers in the U.S. Exelon does business in 48 states, the District of Columbia and Canada. Exelon’s six utilities deliver electricity and natural gas to approximately 10 million customers in Delaware, the District of Columbia, Illinois, Maryland, New Jersey and Pennsylvania. Exelon is one of the largest competitive U.S. power generators, with more than 32,700 megawatts of nuclear, gas, wind, solar and hydroelectric generating capacity comprising one of the nation’s cleanest and lowest-cost power generation fleets.
Commonwealth Edison provides service to about 3.8 million customers across northern Illinois, or 70% of the state’s population.