The proposed FRR could give up to $577 million more per year to Exelon and at the same time increase customer rates by $444 million a year.
CHICAGO (PRWEB) August 26, 2020
Clean Energy Transition Project, an anti-bailout and clean energy advocacy group, is praising Illinois Governor Pritzker today for his leadership in working to achieve a clean energy economy that puts families ahead of corporate bailouts. In response to the Governor’s recently released “Eight Principles for a Clean & Renewable Illinois Economy," the group highlighted the Governor’s rejection of a Fixed Resource Requirement (FRR) proposal currently included in the Clean Energy Jobs Act (CEJA).
“We agree with Governor Pritzker that Illinois can achieve clean energy without bailouts to Exelon and ComEd. He stood up to another Exelon bailout by standing up against the FRR, which research shows would give Exelon hundreds of millions of dollars more a year and at the same time significantly increase customer rates,” said Lacie Newton, director of Clean Energy Transition Project.
In a new study released today, the energy experts at Bates White Economic Consulting found that the proposed FRR could give up to $577 million more per year to Exelon and at the same time increase customer rates by $444 million a year.
“Governor Pritzker laid out a bold vision to transition Illinois to a clean energy economy. To do so we must put an end to the Exelon bailout and instead put that money to the communities that need it most. Thank you to the Governor for putting clean energy and Illinois families ahead of bailing out corporations," said Newton.
The Clean Energy Transition Project released television ads beginning late last month to advocate against more bailout money for ComEd and its parent company, Exelon, after the electric utility admitted to federal bribery charges in mid-July.