Major utility to close 2 nuclear power plants
Thursday, June 2, 2016 at 9:39PM
Uranium Stocks

Exelon Corp. said Thursday it will close two nuclear plants in Illinois because they are no longer profitable to operate.

The retirement of the Clinton and Quad Cities plants before their useful life is over will take nearly 3,000 megawatts of generating capacity offline, potentially making it harder for Illinois to meet its greenhouse gas reduction requirements under the federal Clean Power Plan.

Exelon specifically blamed Illinois’s Legislature for the closings, saying legislation that’s been under consideration but hasn’t passed would have made keeping the plants open more feasible.

“This is an extremely difficult day for the 1,500 employees who operate these plants safely and reliably every day, and the communities that depend on them for support,” Chris Crane, Exelon’s president, said in a statement.

“We have worked for several years to find a sustainable path forward in consultation with federal regulators, market operators, state policymakers, plant community leaders, labor and business leaders, as well as environmental groups and other stakeholders,” he said. “Unfortunately, legislation was not passed, and now we are forced to retire the plants.”

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