SPRINGFIELD, Ill. (AP) - A study ordered by consumer groups finds a plan to financially reward Exelon Corp. (NYSE: EXC) for producing carbon-free nuclear energy would cost $1.6 billion over five years and strain financially strapped business and municipal government budgets.
Kestler Energy Consulting conducted the study released Tuesday at the state Capitol for the BEST Coalition. The coalition opposes legislation to financially reward Exelon for producing energy without emitting harmful greenhouse gases.
Exelon says without the subsidy it might have to close three nuclear plants. Spokesman Paul Elsberg points to a state study from January that shows closing those plants would cost the state $1.8 billion annually in economic activity.
BEST Coalition director Dave Lundy says Exelon should prove its case by opening finances to outside experts.
The bill is HB3293.
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