Rauner signs Exelon subsidy to spare 2 nuclear plants
Gov. Bruce Rauner approved a plan Wednesday that will provide billions of dollars in subsidies to Exelon Corp. to keep two unprofitable nuclear plants from closing prematurely.
The Republican appeared at Riverdale High School in Port Byron to sign legislation he said will save thousands of jobs by rewarding Exelon for producing carbon-free energy.
In addition to $235 million a year for Exelon to prop up nuclear plants in the Quad Cities and Clinton, the plan provides hundreds of millions of dollars in energy-efficiency programs and assistance to low-income energy users.
"I was unwilling to gamble with these communities, gamble with thousands of good-paying jobs and gamble with our energy future," Rauner said in a statement. "While this legislation isn't perfect, it allows us to protect jobs, ratepayers and taxpayers."
Read more: http://www.sj-r.com/news/20161207/rauner-signs-exelon-subsidy-to-spare-2-nuclear-plants