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Published: Sat, December 03, 2016
Economy | By Melissa Porter

Exelon energy overhaul headed to House floor


Over the decade the plan would be in effect, ComEd says its average residential customers would pay no more than 25 cents a month related to the subsidy. "The additional benefits that the bill provides, by keeping the Quad Cities and Clinton plants open, are all the more reason that policymakers should move swiftly to ensure that the Future Energy Jobs bill is enacted".

Exelon Generation and ComEd today announced they have reached an agreement with Governor Rauner on the Future Energy Jobs Bill, which has been further enhanced with additional customer protections, based on input from Governor Rauner's office.

Measures for reducing the number of proposed microgrids from five to three and expanding rebates for community, industrial and commercial solar installations are also proposed in the bill. The money subsidizes unprofitable nuclear plants in Clinton and the Quad Cities that Exelon said would be shuttered over the next 18 months.

Darin said IL has been missing out on millions of dollars of private investment and hundreds of jobs because the renewable-energy policies in the state are broken, but he said this legislation moves the state in the right direction.

Meanwhile, the removal of subsidies for Dynegy's coal plants won the support of the Illinois Clean Jobs Coalition, whose members supported numerous previous provisions but opposed measures that would've supported continued burning of coal.

The last major change, which the House committee approved Wednesday evening, added caps on rate increases for energy users, from heavy industry to individual households. The Chatham Business Association will make a concerted effort to create and expand existing business opportunities that prepare underserved communities for the economic potential of this new energy future, and maximize investment in priority communities, said Melinda Kelly, Executive Director of the Chatham Business Association.?It also helps businesses keep energy costs affordable, advances grid reliability and energy security, which are essential ingredients to a healthy economy. He said the next step is to get the Legislature and the governor on board.

As of Wednesday afternoon, however, a promised fourth amendment to the bill, incorporating technical changes as well as those requested by Rauner, had not been introduced. For more information, visit futureenergyjobsbill.com.

Amendment #4 reflects a November 30 agreement between Illinois Gov. Bruce Rauner (R) and Exelon and its Commonwealth Edison utility subsidiary on consumer cost protections.

But critics aren't convinced and say the bill if passed would amount to the largest rate hike in USA history. The companys Constellation business unit provides energy products and services to approximately 2.5 million residential, public sector and business customers, including more than two-thirds of the Fortune 100.

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