07/31/2015 | Thomas Overton
Exelon’s Quad Cities nuclear plant in Illinois will not be economically viable despite changes in the PJM capacity market, and the company has to make a decision on closing it before the Illinois legislature can act on possible measures to save it, CEO Chris Crane said in Exelon’s second-quarter earnings call on July 29.
Along with the company’s R.E. Ginna plant in New York, Quad Cities has topped lists of nuclear plants at risk of premature shut down because of unfavorable economics. Exelon has been warning for several years that the plant is losing a substantial amount of money as a result of low power prices, and that it is unable to compete with cheaper gas-fired power and subsidized renewable energy.