Gov Signs Sweeping Energy Bill With Nuclear Bailouts, Hard Limits

Chicago IL

15 September, 2021

9:03 PM

Description

CHICAGO —Illinois Gov. J.B. Pritzker signed a bill into law Wednesday that hopes to put Illinois at the forefront of clean energy standards. The new legislation aims to get the state to 100 percent clean energy by 2050 through nuclear plant subsidies and paying coal and natural gas facilities to slowly cease production. "We can't outrun or hide from climate change — not to the north where the boundary waters burn, not to the south where Ida swallows lives and livelihoods in the blink of an eye," said Pritzker at the bill's signing. "We've seen the effects of climate change right here in Illinois repeatedly in the last two and a half years alone: a polar vortex, devastating floods, microbursts that destroy buildings ..." Over the next five years, the bill promises about $700 million to Exelon to fund their nuclear plants but requires smaller coal firing plants to cut their emissions by 45 percent by at least the year 2035 and subsequently close in 2045 unless they can find a path to zero carbon emissions. Prior to the bill's passage, Exelon was poised to close their plants in Byron and Dresden by November. Now, ratepayers will likely have to pay an average of $3/month more to fund the transition to green energy. Exelon will be required to apply for any federal aid available to recover. A spokesman for Exelon Generation told the Chicago Tribune both plants will be refueled instead of shuttered. "Exelon will move to immediately fill hundreds of vacant positions and resume capital projects required for long-term operation," the spokesman said in a statement. However, a refund could be coming to some Illinois-based ratepayers as the Illinois Commerce Commission will investigate how funds were used in ComEd's bribery scandal which came to light in the summer of 2020. While the bill had bipartisan support in both the Illinois House and Senate, Rep. David Welter, R-Morris, said the bill still had room for improvement but was a good compromise nonetheless. "I feel this bill, although not perfect, was a compilation of a lot of work and a lot of time, a lot of effort to try to get us as close as possible," Welter said at the bill's signing at the Shedd Aquarium. The bill takes effect immediately and also includes provisions to boost the development of wind and solar energy and make it easier for minority workers to break into the renewable energy industry.