Exelon Corp. (NYSE: EXC) said it would defer any decision on operations of the Clinton nuclear power plant until next year.
Exelon said it plans to bid the power plant into the Midcontinent Independent System Operator (MISO) capacity auction for the 2016-2017 planning year. It was an announcement from MISO that prompted Exelon to defer the decision for an additional year.
MISO posted an issues statement saying reforms to its capacity market process may be required to drive future investments and ensure reliable electricity supply for customers.
Positive results from the Illinois Power Agency’s capacity procurement for 2016 and the long-term impact of the Clean Power Plan were other reasons behind Exelon’s decision.
“We are encouraged by MISO’s statement and the potential for market reforms that are necessary to ensure long term reliability in southern Illinois,” said Chris Crane, president and CEO of Exelon. “However, the Clinton plant remains unprofitable and more needs to be done.”
A report by the Illinois Environmental Protection Agency determined that the loss of two nuclear power plants in the state would increase emissions by about 24 million short tons, more than doubling the emissions reductions required under federal carbon reduction rules.
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