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Exelon: Bills To Support Nukes Won’t Be Enacted This Session
June 01,2015 Exelon said in an 8-K this morning that, "On June 1, 2015, Exelon Corporation (Exelon) and Exelon Generation Company LLC (Generation) concluded that the proposed Low Carbon Portfolio Standard (LCPS) legislation would not be enacted by the Illinois General Assembly during the current legislative session, even though the session has been extended." The "Low Carbon Portfolio Standard" was intended to provide financial support to Exelon's merchant nuclear units, which the company alleges are financially challenged and in risk of retirement "Exelon and Generation intend to continue their dialogue with Illinois policymakers regarding policy reforms which would better recognize the full value that Generation’s nuclear plants provide for Illinois. Exelon and Generation will also continue to evaluate the current and expected economics of each of Generation’s Illinois nuclear plants. In September, Generation has an obligation to inform PJM Interconnection LLC (PJM), the organization which administers capacity auctions, if any of its plants in the PJM region will not be participating in the May 2016 PJM capacity auction. In December, Generation must inform the Midcontinent Independent System Operator (MISO) if the Clinton plant will not be in operation during the next MISO resource adequacy planning year that begins June 1, 2016. Exelon and Generation have not made any decisions regarding potential plant closures at this time," Exelon said.
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