Exelon announced today its plans to retire its Clinton, Illinois, and Quad-Cities nuclear plants, if legislation introduced this session to the Illinois Legislature doesn't pass.
In the company's first quarter earnings report released today, the company said it would retire the Clinton plant on June 1, 2017, and the Quad-Cities station in Cordova, Illinois, on June 1, 2018.
According to the report, Exelon officials said the retirements would happen if the legislation wasn't passed and if the Quad-Cities station didn't clear the 2019-20 RPM capacity auction.
In 2015, the company deferred retirement decisions on the plants until this year in order to participate in the 2016-17 MISO primary reliability auction and the 2019-20 PJM capacity auction in April and May 2016. This timeframe also allowed Illinois legislators more time to consider reforms through legislation to benefit nuclear power and for MISO to consider market design changes to ensure long-term power system reliability in southern Illinois.
Exelon officials are announcing the intention to close these plants if Illinois does not pass proposed legislation by May 31 and if Quad-Cities does not clear the 2019-20 PJM capacity auction.
Exelon announced the Next General Energy Plan on Thursday for Illinois lawmakers to consider.