CORRECTING & REPLACING Progress Made on Groundbreaking Energy Bill That Creates & Preserves Thousands of Jobs, Advances Clean...
November 29 2016 - 1:42PM
Business Wire
House Energy Committee passes streamlined
Future Energy Jobs Bill
Please replace the release with the following corrected version
due to multiple revisions.
The corrected release reads:
PROGRESS MADE ON GROUNDBREAKING ENERGY BILL
THAT CREATES AND PRESERVES THOUSANDS OF JOBS, ADVANCES CLEAN
ENERGY
House Energy Committee passes streamlined
Future Energy Jobs Bill
Exelon Generation and ComEd today applauded the House Energy
Committee’s passage of a streamlined version of the Future Energy
Jobs Bill that will maintain Illinois’ competitive electric rates,
preserve and create thousands of jobs and expand clean energy at a
cost substantially below 25 cents per month for the average ComEd
residential customer. The Committee voted 10 to 1 approve the
measure.
In addition to lowering costs, the legislation will jumpstart
renewable energy development, expand aid and job training to
low-income residents and support high-paying jobs.
The bill has gained broad support from more than 200 business,
labor, environmental and other groups, including the Chicagoland
Chamber of Commerce and Illinois Retail Merchants Association. It
also has support from members of the Clean Jobs Coalition, which
includes the Citizens Utility Board, Natural Resources Defense
Council, Sierra Club, Environmental Defense Fund and others. In
addition, it has the support of a broad coalition of faith-based
groups, who highlighted the proposal’s cost-savings and jobs
benefits to low-income residents at a press conference held Monday.
Participating organizations included the Metropolitan Apostolic
Community Church, Illinois Medical District, New Mount Pilgrim
Church, New Spiritual Ministry, Faith in Place and the Triedstone
Full Gospel Baptist Church.
The revised proposal retains important provisions to preserve
4,200 jobs at Exelon’s Clinton and Quad Cities nuclear plants,
support cleaner air, create thousands of new clean energy jobs by
advancing renewable energy development and providing businesses
flexible options for capturing savings through expanded energy
efficiency initiatives. It also prevents the loss of $1.2 billion
in economic activity generated by the plants and an estimated $10
billion in increased costs associated with higher carbon emissions
that would occur if the plants close. When all of the economic
impacts are calculated, benefits of the legislation far outweigh
costs.
The latest changes come after discussions with stakeholders,
including environmental groups, renewable energy developers,
faith-based organizations, consumer advocates, business groups,
utilities and community leaders, among others.
Since it was first introduced and passed November 16 in a 9 to 1
vote by the Illinois House Energy Committee, changes to the bill
include:
- Eliminating the demand based rates
provision
- Eliminating the Fixed Resource Adequacy
Plan, or FRAP
- Ensuring that the Zero Emissions
Standard proposal will preserve Exelon’s Illinois nuclear plants
for at least 10 years and include even stronger consumer
protections
- Revising the scale of the energy
efficiency program and giving large industrial energy users the
option of managing their own programs to reduce costs
- Reducing the number of proposed
microgrids from five to one
- Providing $750 million in funding for
low-income programs, which will go toward bill payment assistance
and programs that increase access to solar energy, energy
efficiency and job training
“We have continued to listen to feedback from all parties and
have revised the bill to further reduce costs while still
preserving and creating jobs and delivering a much-needed boost to
Illinois’ economy,” said Joe Dominguez, Exelon’s executive vice
president, Governmental and Regulatory Affairs and Public Policy.
“By any objective analysis, the economic benefits of this
legislation far outweigh the costs, and will give Illinois a
significant advantage in maintaining competitive electric rates and
competition for clean energy jobs. Today’s committee vote is
another important step towards enacting this urgently needed
legislation.”
“We have worked with a variety of stakeholders on this latest
amendment to the bill and reduced cost and increased value for
consumers and the Illinois economy. This bill accomplishes
important goals such as preserving thousands of well-paying jobs
and creating thousands more, supporting clean energy and providing
an economic boost to Illinois,” said Fidel Marquez, senior vice
president, government and external affairs, ComEd. “We applaud the
committee’s action and look forward to working with all
stakeholders to continue making progress.”
For more information, visit futureenergyjobsbill.com.
Exelon Corporation (NYSE: EXC) is a Fortune 100 energy company
with the largest number of utility customers in the U.S. Exelon
does business in 48 states, the District of Columbia and Canada and
had 2015 revenue of $34.5 billion. Exelon’s six utilities deliver
electricity and natural gas to approximately 10 million customers
in Delaware, the District of Columbia, Illinois, Maryland, New
Jersey and Pennsylvania through its Atlantic City Electric, BGE,
ComEd, Delmarva Power, PECO and Pepco subsidiaries. Exelon is one
of the largest competitive U.S. power generators, with more than
32,700 megawatts of nuclear, gas, wind, solar and hydroelectric
generating capacity comprising one of the nation’s cleanest and
lowest-cost power generation fleets. The company’s Constellation
business unit provides energy products and services to
approximately 2.5 million residential, public sector and business
customers, including more than two-thirds of the Fortune 100.
Follow Exelon on Twitter @Exelon.
Commonwealth Edison Company (ComEd) is a unit of Chicago-based
Exelon Corporation (NYSE: EXC), the nation’s leading competitive
energy provider, with approximately 10 million customers. ComEd
provides service to approximately 3.8 million customers across
northern Illinois, or 70 percent of the state’s population. For
more information visit ComEd.com, and connect with the company on
Facebook, Twitter and YouTube.
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Exelon CorporationPaul AdamsCorporate
Communications410-470-4167paul.adams@constellation.com
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