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Nuclear corporation Exelon tries to stifle the competition from renewables

Exelon’s Pepco Takeover Fuels Fear That Nuclear Will Trump Solar, Blomberg,  by Mark Chediak & Jim Polson 14 May 15 Fear that Exelon Corp. could slow the growth of solar power in Maryland to protect its high-cost nuclear reactors is fueling a push to block its planned acquisition of Pepco Holdings Inc.

The debate pits the state’s top lawyer, who has urged regulators to reject the sale, against the nation’s biggest nuclear power plant owner. The Maryland Public Service Commission is scheduled to rule on the $6.8 billion merger Friday.

If approved, Exelon will supply more than 80 percent of the state’s utility customers, giving it extraordinary market clout to favor its aging nuclear fleet over renewables, Attorney General Brian E. Frosh has argued. Exelon, based in Chicago, has countered with a promise to develop 15 megawatts of solar power in the state, and to create a $19.8 million fund to encourage investment in rooftop solar and energy efficiency.

In Illinois, where three Exelon reactors are at risk of closing, the company has blamed the growing use of wind power for crimping revenue, and it supports a requirement that utilities buy some power from “low-carbon” plants that include nuclear reactors.

‘Transformative Opportunities’

“The evidence shows that Exelon intends to control the pace of development of distributed energy resources,” Frosh said in a filing with the commission. Solar and wind, “while threatening to Exelon’s central station merchant power plants, offer unprecedented and transformative opportunities for Maryland consumers.”…….http://www.bloomberg.com/news/articles/2015-05-15/exelon-s-pepco-takeover-fuels-fear-that-nuclear-will-trump-solar

May 16, 2015 - Posted by Christina Macpherson | business and costs, USA