Exelon is Strongly Committed to the Future of Nuclear Energy
April 19 2018 - 8:00AM
Business Wire
Report this week by the Brattle Group
underscores nuclear energy’s critical importance to achieving a
clean energy future
In response to media coverage of remarks made at the U.S. Energy
Association's annual meeting in Washington last week, Exelon today
clarified the company is fully committed to and investing in
advancing the future of nuclear energy.
“We are unequivocally committed to a strong and successful
future for nuclear energy, including advancing and investing in new
technology while tirelessly promoting sound energy policies and
critically needed market reforms,” said Chris Crane, Exelon
president and CEO.
As the nation’s largest nuclear energy operator, Exelon is
working to promote federal, regional and state policy reforms that
appropriately value zero-emission nuclear power for its many
environmental, economic, resiliency and national security
benefits.
According to a recent report by The Brattle Group, the expected
closures of four nuclear power plants in Ohio and Pennsylvania
would increase carbon emissions by more than 20 million metric
tons, essentially wiping out the environmental benefits of all the
wind and solar built in the PJM region over the past 25 years.
Despite Exelon’s strong belief in nuclear energy, it is clear
that new, large-scale nuclear plants are not viable in today’s U.S.
competitive markets, where even existing nuclear plants are
challenged due to the failure of these markets to value resiliency
and environmental externalities.
With needed reforms, however, Exelon sees tremendous promise in
advanced nuclear technologies, including small modular reactors
that can be built on a shorter capital cycle, and Exelon is
partnering with a variety of companies to pursue these innovative
technologies. Exelon also continues to promote advanced nuclear
reactor designs and advance international nuclear growth
opportunities. In addition, Exelon has invested millions in
predictive technologies and innovations and power uprates.
“Exelon is fully engaged in preserving our nation’s existing
nuclear fleet and advancing the nuclear technologies of tomorrow,”
said Crane. “We can’t imagine a clean energy future without
zero-emission nuclear energy. But we also have to be honest with
ourselves about the need for changes to markets and energy policy
to value resilience and environmental attributes in a technology
neutral way. If we do that, then nuclear energy will easily find
its place along with renewable energy and next-generation storage
in America’s future energy mix.”
About Exelon Corporation
Exelon Corporation (NYSE: EXC) is a Fortune 100 energy company
with the largest number of utility customers in the U.S. Exelon
does business in 48 states, the District of Columbia and Canada and
had 2017 revenue of $33.5 billion. Exelon’s six utilities deliver
electricity and natural gas to 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
35,168 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 more than two-thirds of the Fortune 100.
Follow Exelon on Twitter @Exelon.
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Exelon CorporationDavid TillmanNuclear
Communications610-765-6975
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