Exelon loses big in PJM electricity auction

GreenWorld

Exelon's Byron reactors couldn't sell their electricity at the PJM auction. So Exelon wants a legislative bailout. Exelon’s Byron reactors couldn’t sell their electricity at the PJM auction. So Exelon wants a legislative bailout.

Yesterday, in our post about three nuclear industry victories–but a long-term and continuing trend that forecasts trouble for the nuclear and fossil fuel industries–we wrote: “The PJM power grid, which covers 61 million customers from the mid-Atlantic to Illinois, held its 2017-18 power auction and procured 167,004 megawatts of capacity resources at a base price of $120, a whopping increase from the $59.37 base it bought at last year’s auction. That’s good news for Exelon and its troubled nuclear reactors and bad news for ratepayers in the region.”

Well, at double the price for electricity as last year’s auction, it seemed on the surface like it would be good news for Exelon. But later in the day, after we posted the story, the news emerged that five Exelon reactors were shut…

View original post 1,145 more words

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