Exelon chief: Wind-power subsidies could threaten nuclear plants

Isn’t the whole idea to help us get rid of nuclear power plants along with other polluters like coal fired power plants?

From The Chicago Tribune:  http://articles.chicagotribune.com/2013-02-08/business/ct-biz-0208-exelon-div–20130208_1_exelon-nuclear-plants-power-plants

CEO Christopher Crane warns plant closings could become possible; company slashes dividend

By Julie Wernau
February 08, 2013

Exelon Corp. Chief Executive Christopher Crane said Thursday that the rapid pace of subsidized wind-generated electric power could ultimately force it to shutter nuclear plants.

“What worries me is if we continue to build an excessive amount of wind and subsidize wind, the unintended consequence could be that it leads to shutting down plants,” Crane said in an interview.

Crane said states that have helped to subsidize wind development in order to create jobs might find themselves losing jobs if nuclear plants shut down.

The Chicago-based company doesn’t have any immediate plans to mothball nuclear plants, although at least one analyst has predicted that could occur as soon as 2015.

“We continue to believe that our assets are some of the lowest-cost, most-dispatchable baseload assets and don’t have any plans at this point of early shutdown on them,” Crane said.

Exelon’s stance against the extension this year of the wind-production tax credit resulted in the company being ousted from the American Wind Energy Association, a lobbying group. Exelon owns a large number of wind turbines but they comprise only a fraction of the company’s overall power-generating portfolio.

Continue reading at:  http://articles.chicagotribune.com/2013-02-08/business/ct-biz-0208-exelon-div–20130208_1_exelon-nuclear-plants-power-plants

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