Statement of BEST Coalition on Passage of The Exelon Nuclear Bailout Legislation

CHICAGO--(BUSINESS WIRE)-- Following yesterday’s passage of the ComEd/Exelon Nuclear Bailout legislation (SB 2814), Dave Lundy, Director of the BEST Coalition, issued the following statement:

“The Exelon Nuclear Bailout law will hurt businesses and individuals throughout Illinois. The so-called rate caps in the bill are a sham, sold as consumer protections but gamed by Exelon to ensure maximum profits for the company. They rely on technical language that allows for dramatically larger rate increases than advertised. Rather than the 25 cents per month for residential customers, an analysis by Illinois leading energy expert, The Power Bureau, finds the bill will cost the average residential ratepayer an additional $4.54/month for ComEd customers and $2.01/month for Ameren customers.

The Exelon legislation began as nuclear bailout for plants we don’t need and it ended as a nuclear bailout for plants we don’t need. Governor Rauner still has a chance to stand up for business and consumer ratepayers and veto this massive rate hike for everyone. We urge him to do so.”

BEST Coalition is a 501C4 nonprofit group of dozens of business, consumer and government groups, as well as large and small businesses. Visit www.noexelonbailout.com.

View source version on businesswire.com: http://www.businesswire.com/news/home/20161202005803/en/

BEST Coalition
Dave Lundy, 312.953.1122
[email protected]

Source: BEST Coalition

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