Exelon Corp. will not make a finalized decision concerning future operations of the Clinton Power Station for one year, the company announced Thursday.
The company has also stated that it plans to submit the plant as a candidate for the Midcontinent Independent System Operator (MISO) capacity auction for 2016 and 2017.
The company has made previous announcements that economic challenges threaten the viability of the Clinton Power Station. An announcement from MISO stated its acknowledgement of a needed change for the market design for energy generation in the region and that the driving of future investments would be a necessity.
The deferment decision also comes as a result of recent results from the Illinois Power Agency’s capacity procurement for 2016 and its report of the long-term impact of the Environmental Protection Agency’s (EPA) Clean Power Plan.
The power agency’s report stated that the loss of two nuclear facilities in the state would likely increase carbon emissions by approximately 24 million short tons. The Illinois EPA reports that societal costs of losing two plants could reach approximately $10 billion.
Despite this, Exelon President and CEO Chris Crane believes that at this point the facility is not profitable.
The announcement also indicates this deferment will allow state lawmakers time to reconsider policy relating to energy and carbon emissions.
