Exelon Corp. says it will shut two Illinois nuclear plants after the Illinois Legislature declined to act on its request for financial support. The company said Thursday it will close the Clinton Power Station in Clinton on June 1, 2017, and the Quad Cities Generating Station in Cordova on June 1, 2018.
Exelon says the locations have lost $800 million over the last seven years. About 1,500 people work at the plants.
The company backs a measure that would extend state subsidies to nuclear power plants for producing reliable, carbon-free electricity that will help Illinois meet federal mandates. It says the future of the state legislation isn't clear after lawmakers formally adjourned their spring session Tuesday.
Exelon says it is making permanent shutdown notifications to the Nuclear Regulatory Commission within thirty days, ending capital investment projects at the two plants, immediately taking a one-time charge of between 150 million and 200 million dollars for this year and accelerating about two billion dollars in depreciation and amortization through the announced shutdown dates, and cancelling fuel purchases and outage planning.
The company says it will continue briefing lawmakers, the Governor, and local leaders as it executes the shutdown plan.
Exelon recently reported healthy profits for its nuclear division in spite of claimed losses at the two plants.