nuclear-news

Exelon, the hugely profitable energy company, wants a bailout. Taxpayers can pay all $500 million at once, or take advantage of a convenient monthly payment plan in the form of higher electric bills. Either way Exelon wants you to pay for their under-performing nuclear power plants.

After raking in billions in “stranded costs” as Pennsylvania transitioned into a competitive energy market, Exelon now finds several of its nuclear power plants unable to compete economically with cheaper and abundant natural gas in the generation of electricity. Having thus benefited from free markets, the energy giant wants a return to government subsidies after having failed to adjust to changing market conditions.

Exelon has deployed an army of lobbyists in Harrisburg to spin the yarn that closing two of their nuclear plants would somehow endanger the region’s electricity supply. Were that true, of course, the plants would be making money and a bailout would not be necessary.

One of the plants is the damaged Three Mile Island facility south of the state capital. Forty years ago disaster was narrowly averted when there was an uncontrolled meltdown in one of its reactors. The plant has been operating at partial capacity ever since, contributing to its economic inefficiency.

Aside from being unprofitable and home to a damaged reactor, TMI as it is commonly known poses a security risk. Harrisburg International Airport lies literally in the shadow of the TMI cooling towers. In an age of heightened concern over terrorist attacks such proximity to an airport renders the facility vulnerable. Thus its closing might be a blessing in disguise.

Exelon has been pressuring state lawmakers for a $500 million infusion (bail-out) of taxpayer dollars to allow it to keep TMI and the Beaver Valley nuclear plant in western Pennsylvania open. The company is apparently unwilling to dip into its own profits to do this, and with a cash-strapped state budget legislators appear unwilling or unable to dish out the requested corporate welfare…….

It is a pitched battle between free energy markets and corporate greed. If Exelon wins a competitive energy market in Pennsylvania will be a thing of the past — and you will pay for it with a higher monthly electric bill. https://www.phoenixvillenews.com/lowman-s-henry-exelon-and-the-death-of-competitive-energy/article_bb56e298-693b-5e54-8fd7-fc4d578d2360.html