Energy Secretary Jennifer M. Granholm Highlights Clean Energy Investments on Tour of Exelon Nuclear Plant

Rhea-AI Summary

Exelon Corp. (Nasdaq: EXC) hosted U.S. Secretary of Energy Jennifer M. Granholm at the Braidwood Generating Station, emphasizing the importance of clean energy investments in combating climate change. The visit was aligned with the Biden administration's Build Back Better agenda, which seeks to support the nuclear fleet that generates over 50% of the U.S.'s clean energy. Key figures include Braidwood's capacity to power over 2 million homes and its role in supporting jobs and the economy through carbon-free electricity. The company urges Congress to act on climate legislation to secure a sustainable energy future.

Positive

• Braidwood Generating Station produces 2,389 megawatts of carbon-free energy, enough for 2 million homes.
• Exelon supports legislation that aims to preserve and invest in the nuclear fleet, promoting clean energy and job growth.
• The visit underscores federal commitment to nuclear energy as crucial for achieving national climate goals.

Negative

• Illinois nuclear plants, including Braidwood, faced risk of premature retirement due to unfavorable energy market rules.
• The necessity for federal action indicates potential vulnerabilities in state support for nuclear energy.

Visit was part of statewide tour to promote historic climate investments contained in the bipartisan infrastructure law and Biden administration’s Build Back Better agenda

CHICAGO--(BUSINESS WIRE)-- Exelon Corp. (Nasdaq: EXC) hosted U.S. Secretary of Energy Jennifer M. Granholm on a tour of Exelon’s Braidwood Generating Station in Will County to highlight the economic and environmental benefits of investing in clean energy to address the climate crisis, support and grow good-paying jobs and secure America’s leadership in a clean energy future. The visit comes as federal lawmakers are considering sweeping climate legislation as part of President Biden’s Build Back Better plan, which will significantly expand on climate provisions in the recently passed bipartisan infrastructure law.

Braidwood exemplifies the need for Congress to take urgent action to support the nation’s nuclear fleet, which provides over 50 percent of the clean energy in the U.S. and 20 percent of all the electricity consumed. The plant was among four Illinois nuclear stations that faced premature retirement as a result of energy market rules that put carbon-free nuclear energy at a disadvantage to polluting fossil plants. That outcome was narrowly avoided when lawmakers enacted Illinois’ Climate and Equitable Jobs Act, which brought together labor, environmental NGOs, consumer advocates and the business community to preserve the state’s nuclear fleet, invest in new clean energy development, promote equity and put Illinois on course to achieve 100% clean power by 2045.

“Illinois made the right decision to increase its investment in new clean energy and preserve the state’s existing zero-carbon nuclear plants, which provide more than 90 percent of the state’s clean energy and support tens of thousands of jobs,” said Kathleen Barrón, executive vice president of Exelon. “But to meet our national climate goals, we agree with Secretary Granholm that federal leadership is essential to meeting the greatest challenge of our generation. We strongly urge Congress to act on the Build Back Better plan, which will unleash investment in new technology, transform our energy grid and put us on a sustainable path to grow our economy, reduce pollution and address the climate crisis before it is too late.”

“The hardworking men and women at our nation’s nuclear power plants are on the front lines in the fight against the climate crisis, keeping the lights on without any carbon or air pollution and supporting our economy with 24/7 electricity,” Secretary Granholm said after touring the plant. “The Build Back Better bill will help keep our existing nuclear fleet running while we invest in new nuclear technology.”

“The Administration and Congress recognize the importance of carbon-free nuclear generation to meet our country’s aggressive decarbonization goals,” said Maria Korsnick, president and CEO of the Nuclear Energy Institute. “The Braidwood nuclear power station is a perfect backdrop for the Secretary to discuss the Build Back Better Act, which includes important policies, like the production tax credit, that will ensure nuclear remains the backbone of our clean energy future.”

Granholm spoke with Braidwood employees and toured the plant’s main control room, turbine deck and other work areas during her visit. Braidwood entered service in 1988 and produces 2,389 megawatts of carbon-free energy, or enough to power more than 2 million homes in Northern Illinois. Photos and video from the tour can be found HERE.

About Exelon

Exelon Corporation (Nasdaq: EXC) is a Fortune 100 energy company with the largest number of electricity and natural gas customers in the U.S. Exelon does business in 48 states, the District of Columbia and Canada and had 2020 revenue of $33 billion. Exelon serves approximately 10 million customers in Delaware, the District of Columbia, Illinois, Maryland, New Jersey and Pennsylvania through its Atlantic City Electric, BGE, ComEd, Delmarva Power, PECO and Pepco subsidiaries. Exelon is one of the largest competitive U.S. power generators, with more than 31,000 megawatts of nuclear, gas, wind, solar and hydroelectric generating 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 2 million residential, public sector and business customers, including three fourths of the Fortune 100. Follow Exelon on Twitter @Exelon.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211210005326/en/

Paul Adams

Corporate Communications

410-470-4167

paul.adams@constellation.com

Source: Exelon Corp.

FAQ

What is the significance of Exelon hosting Secretary Granholm at Braidwood Generating Station?

The event highlighted the economic and environmental benefits of clean energy investments aligned with the Biden administration's climate initiatives.

How does Braidwood contribute to clean energy in the U.S.?

Braidwood produces over 2,389 megawatts of carbon-free energy, supplying electricity to more than 2 million homes.

What is Exelon's position on the Build Back Better plan?

Exelon strongly urges Congress to pass the Build Back Better plan to support the nuclear fleet and advance clean energy initiatives.

What percentage of clean energy in the U.S. is generated by nuclear power?

Nuclear power generates over 50% of the clean energy in the U.S.

What challenges do Illinois nuclear plants face?

Illinois nuclear plants, like Braidwood, faced risks of premature retirement due to energy market rules favoring fossil fuels.