CHICAGO —Exelon announced today that it will need to move forward with the early retirements of its Clinton and Quad Cities nuclear facilities if adequate legislation is not passed during the spring Illinois legislative session, scheduled to end on May 31 and if, for Quad Cities, adequate legislation is not passed and the plant does not clear the upcoming PJM capacity auction later this month.
Without these results, Exelon would plan to retire Clinton Power Station in Clinton, Ill., on June 1, 2017, and Quad Cities Generating Station in Cordova, Ill., on June 1, 2018.
Exelon has been informing policymakers and others in Illinois for the past several years on the importance of recognizing nuclear energy as a reliable, zero-carbon source of energy available around the clock each and every day. Exelon appreciates the broad support from policymakers, plant community leaders, labor officials and business leaders who have spoken out to help preserve these sources of carbon-free, always-on electricity that have brought billions of dollars in economic benefit to the state of Illinois.
Exelon deferred decisions on the future of its Clinton and Quad Cities plants last fall to give policymakers more time to consider energy market and legislative reforms. Since then, energy prices have continued to decline. Despite being two of Exelon’s highest-performing plants, Clinton and Quad Cities have been experiencing significant losses. In the past six years, Clinton and Quad Cities have lost more than $800 million, combined. Costs to operate the facilities consist of labor, maintenance outages, fuel, capital investments and substantial property taxes paid to host communities.
The premature closures of Clinton and Quad Cities would have negative economic and environmental impacts for consumers, local communities and the State of Illinois. According to an analysis by the state of Illinois, approximately 4,200 direct and secondary jobs and nearly $1.2 billion in economic activity will be lost for the state within four years of the plant retirements. Exelon recognizes the especially severe impact this will have on the host communities for Clinton and Quad Cities, and will work with community leaders to prepare for this transition.
Exelon is committed to supporting the nearly 1,500 workers employed at both plants. Employees will safely operate the facilities until the retirement dates, with staff transitions expected within six months after retirement. Exelon will work to identify potential positions for employees of both stations at its 11 other U.S. nuclear facilities as well as other parts of the company. Exelon employs nearly 700 workers at Clinton and 800 workers at Quad Cities.