Exelon and a group of environmental and consumer groups have agreed to dramatically scale back proposed energy legislation that would keep open two Illinois nuclear plants Exelon has slated for closing.
The new compromise, forged after Gov. Bruce Rauner’s office signaled support for a slimmed-down version, would provide a cheaper set of ratepayer-funded subsidies for the money-losing Clinton and Quad Cities nukes than Exelon had proposed, a source familiar with the discussions said. The subsidy would end after 10 years.
Out of the legislation is a controversial proposal to overhaul how Commonwealth Edison’s electricity delivery rates are set. ComEd wanted to begin charging households and small businesses based on how much power they consume at peak demand times of the day rather than how much they consumer overall during the course of a month. Rauner’s administration said that was a nonstarter.
As a result, ComEd is significantly reducing the $1 billion it had offered in customer education and low-income assistance in the bill.
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