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* Tanking for labor when you’re about to run statewide is a good idea. But positioning yourself as the sponsor of a more generous than perhaps needed Exelon/ComEd bailout? I suppose we’re gonna find out…
State lawmakers sponsoring a union-backed proposal that could raise ComEd customers’ bills sought to poke holes Thursday in a study commissioned by Gov. J.B. Pritzker’s office that argues for smaller subsidies for two nuclear plants owned by the utility’s parent company.
During a Senate committee hearing Thursday, Democratic Sen. Michael Hastings of Frankfort and Republican Sen. Sue Rezin of Morris, both sponsors of the labor-backed energy bill, questioned the assumptions in the governor’s audit and the credibility of the outside experts hired to prepare it. […]
Deputy Gov. Christian Mitchell, who is leading energy talks for the governor’s office, told lawmakers that Pritzker fully supports releasing the full report and has asked Exelon for permission to do so. Pritzker also supports taking steps to keep nuclear plants in operation, Mitchell said. […]
But Mitchell said customers should “pay no more than is necessary to keep the fleet viable.” The audit recommends only providing subsidies in years Exelon demonstrates the financial need.
“For those who would want to pay more than that, I would simply ask, ‘Why?’ ” he said.
Good question, although knocking heads with a pretty powerful Democratic Senator also has distinct disadvantages in the short term.
Hastings wants to run for secretary of state. His top Democratic opponent so far is Alexi Giannoulias, who has raised $1.5 million since the beginning of the year, including a $100K A-1 filed just this week. At this rate, he’ll have more than enough money to dirty Hastings up. Hastings has raised $264K so far this year, but had $604K in the bank.
Rezin has nuke plants in her district, so her position is strictly local.
…Adding… IL Chamber…
Following [yesterday’s] Senate Energy and Public Utilities subject matter hearing on the Exelon audit prepared by Synapse Energy Economics at the direction of the Pritzker Administration, Illinois Chamber of Commerce President and CEO Todd Maisch provides the following statement:
Today’s hearing provided a very important opportunity to shed light on some of the questions legislators must consider as Exelon comes back to the General Assembly with hat in hand asking for a second massive bailout in only five years. As Illinois’ citizens and businesses only begin to recover from the harsh economic realities brought on by the Covid19 pandemic, the last thing ratepayers need is to fund a bailout totalling hundreds of millions of dollars for a profitable company through higher electricity prices. The Illinois Chamber encourages a release of the redacted audit, and urges legislators to continue asking the important questions, which the Exelon audit and today’s hearing only began to address. Those questions include:
· Will Exelon acquiesce to legislators’ concerns about transparency and release Illinois EPA and the report’s authors from the non-disclosure agreement, allowing the General Assembly and taxpayers access to the full report?
· Before the State agrees to a second massive subsidy, shouldn’t it request and obtain a financial audit of Exelon’s currently subsidized plants that already cost ratepayers $235 million a year? Shouldn’t we first determine whether or not that first subsidy is greater than what is necessary to maintain their economic viability?
· Are legislators committed to the notion that there should be no subsidy if there is no financial need? And would they support an “annual true-up” of costs with refund provisions to protect Illinois ratepayers?
· Why would legislators support any energy proposal that contains an Exelon subsidy that has not been subjected to an independent third-party audit to determine the true impact to ratepayers?
posted by Rich Miller
Friday, Apr 23, 21 @ 9:01 am
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Previous Post: Kinda anti-climactic
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can we all agree that the subsidies proposed in the report commissioned by the governor’s office are absurdly low? compared to what other states provide, these subsidy recommendations are a joke.
Comment by blue line Friday, Apr 23, 21 @ 9:27 am
$1.5 million goes a long way when saying -shill for corrupt crime ridden Comed.
I get Hastings wants building trade support but do half those folks even show up in Dem primaries?
Comment by Frank talks Friday, Apr 23, 21 @ 9:37 am
I think a lot of the Trades People live in Indiana and many still have their Trumps signs up.
Comment by Frumpy White Guy Friday, Apr 23, 21 @ 9:49 am
>
That you, ComEd? Lol. Why would we all “agree” to pay more on our energy bills when an independent company that, from what I see has no reason to lie, says “yeah you don’t need to pay as much as the company involved in a federal corruption case is telling you to pay”? I’m not sure why anyone facing a voter in 2022 would get on board with ComEd’s positioning here. And I’m not sure why Hastings (who I like) would take this posture when he faces a Democratic primary.
Comment by DuPage Dem Friday, Apr 23, 21 @ 9:52 am
=and release Illinois EPA and the report’s authors from the non-disclosure agreement,=
I am sure this was the only way com ed would comply with the study but it is still wrong to have a NDA when they are panhandling for public money.
=absurdly low?= you meant high right? It is absurd that they need subsidies. The free market and all you know.
Comment by Anonymous Friday, Apr 23, 21 @ 10:44 am
Governor’s Office & a private energy audit company enters into a non-disclosure agreement with a public utility company whose subsidiary company entered into a deferred prosecution agreement with the Department of Justice.
Complimented by a report issued that is supposed to be the gospel with half of the pages redacted … a model of hypocrisy and transparency. Only. In. Illinois.
Comment by Hypocrisy Friday, Apr 23, 21 @ 10:58 am
Funny that Hastings was trying to go after the Gov for redactions, calling them “extremely problematic and unprofessional” when….Exelon is responsible for the redactions.
And - Hypocrisy - Exelon is not a public utility, they are a private holding company not subject to IL public utility regulation. If you know another way to get them to hand over their books for independent analysis, please share.
Comment by Eggsalon Friday, Apr 23, 21 @ 11:03 am
“can we all agree that the subsidies proposed in the report commissioned by the governor’s office are absurdly low? compared to what other states provide, these subsidy recommendations are a joke.”
Nope. The governor wisely insisted on the first independent audit so we don’t just give a company with a spotty ethical track record a blank check. And their work was endorsed by the PJM Independent market monitor. So yea, I’ll trust their work a bit more than the ComEd/labor consultant with a history of inflating nuclear distress.
On the substance side, other states have different issues. On the politics side, just because other states have given politically-driven excessive subsidies why should we? I mean geez, look at the naked corruption around the Ohio nuclear subsidies. Sorry, don’t want to go down that road.
Instead it seems like the Synapse approach is pretty reasonable and exactly what I would have expected.
Comment by Chicago Cynic Friday, Apr 23, 21 @ 12:33 pm
Hastings and Rezin didn’t have their finest moments yesterday but other than the two years Maddie Hunter Chaired the Energy Committee, that committee’s chairperson has always been a shill for Exelon or ComEd or Ameren. Since 2001 - Clayborne, Jacobs, Hastings…
Comment by Avengers Friday, Apr 23, 21 @ 1:17 pm
“Hastings and Rezin didn’t have their finest moments yesterday but other than the two years Maddie Hunter Chaired the Energy Committee, that committee’s chairperson has always been a shill for Exelon or ComEd or Ameren.”
Yea, but wouldn’t it be nice if just for once they weren’t or at least weren’t so obvious about it. Yesterday was pretty embarrassing.
Comment by Ah to dream... Friday, Apr 23, 21 @ 1:54 pm