Following the completion of the PJM capacity auction, Exelon Corp. said Thursday that it will defer any decision on whether to retire the Quad Cities and Byron nuclear plants in Illinois for one year.
Exelon said both facilities cleared the capacity auction for 2017 and 2018. The Byron Plant has been committed to operate at least until May 2019 and the Quad Cities Plant will operate into May 2018 at the very least.
“While Quad Cities and Byron remain economically challenged, we are encouraged by the results of the recent capacity auctions,” Exelon President and CEO Chris Crane said. “The new market reforms help to recognize the unique value of always-on nuclear power, while preserving the reliability of our electric system. However, these plants are long-lived assets with decades of useful life left, and today’s decision is only a short-term reprieve. Policy reforms are still needed to level the playing field for all forms of clean energy and best position the state of Illinois to meet EPA’s new carbon reduction rules.”
The Illinois Environmental Protection Agency has reported that losing two nuclear plants would increase carbon emissions by approximately 24 million tons. They have also concluded that the incremental cost to society would be approximately $10 billion should two plants be eliminated in the state.
Exelon said its Clinton Nuclear Power Plant in Illinois is currently facing economic challenges that could lead to its premature retirement.
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