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Climate change spurs energy plan signed by Gov Pritzker
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Saved by the Bell: Illinois Nuclear Plant Approved by the Help of a Last Minute Vote
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Illinois Senate approves sweeping energy plan
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20 April 2021
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An independent financial audit requested by the state of Illinois has found the Byron and Dresden nuclear power plants face real risk of becoming uneconomic in the near term. State support could help provide security for the plants to be part of a strategy for Illinois to transition to less carbon-emitting resources, the report finds.
Exelon s six nuclear plants in Illinois (Image: Exelon)
Exelon Generation announced last year that the two-unit Byron and Dresden nuclear power plants will both be retired in 2021, citing unfavourable market rules in the the PJM capacity auction. The company at that time warned that further plants would also be at risk of premature closure due to these unfavourable market rules. The Illinois Environmental Protection Agency in January appointed Cambridge, Massachusetts-based Synapse Energy Economics Inc to carry out the audit of claims by Exelon Corporation about the financial outlook for its Byron, Dresden, Braidwood and LaSal
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Exelon to Split Business, Spin Off Generation Segment
Responding to rapid changes in the power industry, Exelon Corp. plans to cleave its business into two publicly traded companies: one comprising its six regulated electric and gas utilities, and the other, which it plans to spin off, comprising its 31-GW competitive generation fleet and customer-facing businesses.
The separation which the company’s Board of Directors approved on Feb. 21 and Exelon wants to complete in the first quarter of 2022 will give each company the “financial and strategic independence to focus on its specific customer needs, while executing its core business strategy,” the company said on Feb. 24.