nuclear-news

Exelon should shut down those uneconomic nuclear reactors – says former CEO

Former Exelon CEO says Exelon should shut those reactors Green World, Michael Mariotte
July 28, 2015 “………..Last Friday, we linked to one interview he gave recently where he said he would have been quicker to close Exelon’s uneconomic reactors than the current Exelon regime–which still hasn’t closed them and is still floundering around trying to get someone, anyone, to order ratepayers to bail them out. So far, unsuccessfully.

Yesterday, E&E Publishing ran another interview with Rowe,  which expands on his thoughts and surely caused unpleasant abdominal pains and teeth-gnashing in Exelon’s executive suite and boardroom. You see, Rowe is one of those retired execs whose stature has only grown since he left the company and his thoughts carry weight, especially in Illinois. And he’s still got some clout, perhaps more than Exelon itself these days: for example, he’s actually friends with Chicago Mayor and former White House Chief of Staff Rahm Emanuel, unlike the current Exelon suits.

So here’s what Rowe said about Exelon’s uneconomic reactors:

I’m living in a fairy world because I don’t have the numbers and I’m not responsible for them anymore. But in my opinion, you shut those three plants down. You say they have become uneconomic just like some old coal plants are uneconomic. And in a world that’s driven by unfriendly market prices and unfriendly public policy, you shut them down………

As for the idea that EPA’s Clean Power Plan should encourage nuclear power:

…I don’t think it’s EPA’s job to encourage a new nuclear world. I think that would be one of the most expensive solutions it could pursue……

Rowe, unlike the current short-sighted and economically-challenged management at Exelon, understands electricity markets and finances and, also unlike Exelon’s current management, is not afflicted with the kind of greed mentality that insists they should get whatever they want just because they want it. Rowe understands that is not how the world works. Rather than trying to force the world to adapt to Exelon, as the current regime is attempting, Rowe’s history was one of trying to steer Exelon through the real world that was presented. http://safeenergy.org/2015/07/28/former-exelon-ceo-says-exelon/

July 31, 2015 - Posted by Christina Macpherson | business and costs, USA