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Broad, Bipartisan Group Announces Market-Based Solution Preserving Low-Carbon Energy in Illinois
Note - It reads like an article, but it's really an Exelon press release
A bipartisan group of legislators, along with business, labor and community leaders, today announced their support for legislation creating a state Low Carbon Portfolio Standard that establishes Illinois as a national leader in efforts to reduce carbon emissions with minimal consumer impacts.
Introduced in both the Senate as SB 1585 and the House as HB 3293, the legislation would help reduce carbon emissions, increase renewable energy and maintain affordable, reliable electricity for consumers and businesses. In addition, the measure will ensure continued operations of the state's nuclear power plants, which are responsible for nearly half of all electricity produced in Illinois. The market-based solution is modeled after findings from a recent HR 1146 report prepared by four state agencies that analyzed the economic, environmental and reliability impacts of premature nuclear plant closures in Illinois.
Under the proposed legislation, certain electric utilities would be required to purchase low-carbon energy credits to match 70 percent of electricity used on the distribution system from qualified sources, which include solar, wind, hydro, nuclear, tidal, wave and clean coal. The legislation includes safeguards to protect consumers similar to those for Illinois' other clean energy programs. For example, a consumer price cap would limit the impact to a 2.015 percent annual increase compared to 2009 rates, or about $2/month for the average Illinois residential electricity customer, less than the increase customers would face if the nuclear plants close early. In addition, if wholesale electric prices exceed a certain level, any excess revenues would be rebated to all Illinois electric customers on their bills.
...snip...
"This legislation will help ensure Illinois has the low-carbon energy sources it will need to meet its obligations under the U.S. EPA's Clean Power Plan," said Representative Larry Walsh, Jr. (D-Joliet). "There is simply no way Illinois will achieve meaningful carbon reductions and meet the EPA goals without preserving our current nuclear fleet."
http://www.wkrg.com/story/28211216/broad-bipartisan-group-announces-market-based-solution-preserving-low-carbon-energy-in-illinois
Introduced in both the Senate as SB 1585 and the House as HB 3293, the legislation would help reduce carbon emissions, increase renewable energy and maintain affordable, reliable electricity for consumers and businesses. In addition, the measure will ensure continued operations of the state's nuclear power plants, which are responsible for nearly half of all electricity produced in Illinois. The market-based solution is modeled after findings from a recent HR 1146 report prepared by four state agencies that analyzed the economic, environmental and reliability impacts of premature nuclear plant closures in Illinois.
Under the proposed legislation, certain electric utilities would be required to purchase low-carbon energy credits to match 70 percent of electricity used on the distribution system from qualified sources, which include solar, wind, hydro, nuclear, tidal, wave and clean coal. The legislation includes safeguards to protect consumers similar to those for Illinois' other clean energy programs. For example, a consumer price cap would limit the impact to a 2.015 percent annual increase compared to 2009 rates, or about $2/month for the average Illinois residential electricity customer, less than the increase customers would face if the nuclear plants close early. In addition, if wholesale electric prices exceed a certain level, any excess revenues would be rebated to all Illinois electric customers on their bills.
...snip...
"This legislation will help ensure Illinois has the low-carbon energy sources it will need to meet its obligations under the U.S. EPA's Clean Power Plan," said Representative Larry Walsh, Jr. (D-Joliet). "There is simply no way Illinois will achieve meaningful carbon reductions and meet the EPA goals without preserving our current nuclear fleet."
http://www.wkrg.com/story/28211216/broad-bipartisan-group-announces-market-based-solution-preserving-low-carbon-energy-in-illinois
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