Exelon Generation Applauds NYPSC Vote on Clean Energy

Clean Energy Fund and Standard could preserve jobs, spur private investment and reduce carbon emissions

Jan 21, 2016, 22:55 ET from Exelon Generation

KENNETT SQUARE, Pa., Jan. 21, 2016 /PRNewswire/ -- Exelon Generation commends the New York Public Service Commission for voting unanimously today to move forward with an ambitious Clean Energy Standard that values the vital environmental and economic benefits of nuclear energy.

As operator of one of the nation's leading clean energy fleets, Exelon Generation fully supports policies that promote the transition to low-carbon generation while avoiding the premature retirement of clean, safe and reliable nuclear facilities.

"We salute PSC Chair Audrey Zibelman and the full commission for their bold action today in support of clean energy, renewed private investment and lower rates for New York customers," said Joe Dominguez, Exelon's executive vice president of governmental and regulatory affairs and public policy. "Progressive energy policies will help ensure that Exelon's upstate nuclear stations can continue delivering zero-carbon electricity and driving local economies for many years to come. We look forward to working with the governor, the PSC and other stakeholders to learn more about this ambitious plan."

Exelon's two upstate nuclear plants, R.E. Ginna and Nine Mile Point, provide significant benefits to New York families, communities and businesses that depend on the reliable electricity, jobs and tax dollars they provide. The plants also play a key role in meeting New York's greenhouse gas standards now and over the long-term. Combined, the facilities produce more than 2,500 megawatts, and their clean air generation enhances New York's ability to improve air quality in the state. The stations also contribute significantly to the upstate New York economy, providing more than 17,000 direct and secondary jobs as well as nearly $100 million in direct and secondary state and local tax revenues. 

Exelon Generation operates the largest fleet of nuclear plants in the nation. The fleet consists of 23 reactors at 14 locations in Illinois, Maryland, Nebraska, New Jersey, New York and Pennsylvania. Exelon will work with the governor, the New York State Public Service Commission and other stakeholders as New York's Clean Energy Standard takes shape.

Exelon Corporation (NYSE: EXC) is the nation's leading competitive energy provider, with approximately $33 billion in annual revenues. Headquartered in Chicago, Exelon has operations and business activities in 47 states, the District of Columbia and Canada. Exelon is the largest competitive U.S. power generator, with approximately 35,000 megawatts of owned capacity comprising one of the nation's cleanest and lowest-cost power generation fleets. The company's Constellation business unit provides energy products and services to approximately 100,000 business and public sector customers and approximately 1 million residential customers. Exelon's utilities deliver electricity and natural gas to approximately 6.6 million customers in central Maryland (BGE), northern Illinois (ComEd) and southeastern Pennsylvania (PECO). Learn more at: www.exeloncorp.com.


SOURCE Exelon Generation