Nation's biggest nuclear firm makes a play for green money

 Nation's biggest nuclear firm makes a play for green money

A big player in the troubled nuclear power industry is trying to change the rules of the energy game.

Exelon Corp. (NYSE: EXC) says Illinois lawmakers must revamp the power market or potentially see three of that state's nuclear plants close. The Chicago-based company operates the largest fleet of nuclear plants in the country.

Exelon aggressively invested in nuclear energy when natural gas was expensive and the economy was humming along, keeping electricity prices high.

But a glut of cheap gas has cut down on the profits once made by nuclear plants. Exelon officials say renewable energy subsidies also create a tilted market.

Company officials want Illinois to create a system that would pay nuclear plants extra for producing carbon-free energy.

Critics call the legislation a bailout for a profitable company.

Subscribe to Power Engineering magazine

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...