Exelon applauds New York’s new Clean Energy Standard

Exelon Corp. applauded New York energy leaders on Monday for the passage of the state’s new Clean Energy Standard (CES), which advances support for clean, zero-emissions energy, including support for nuclear energy facilities.

“Today is a historic day for New York and the energy industry, and we applaud Governor Andrew Cuomo and his administration for their leadership,” Chris Crane, president and CEO of Exelon Corp., said. “Approval of the Clean Energy Standard makes New York a true leader in terms of support for zero-emissions energy, including both renewables and nuclear power. With the Clean Energy Standard, we’ll immediately invest hundreds of millions of dollars right back into the upstate economy, which will have a long-term positive impact across the state.

The new CES guarantees support for Exelon’s two nuclear energy facilities – R.E. Ginna and Nine Mile Point. The plants produce approximately 2.4 billion watts of clean electricity annually and employ approximately 1,400 full-time workers. Through the continued operations of the plants, Exelon expects to invest approximately $200 million in the state economy by spring 2017.

Exelon also recently entered into negotiations with Entergy for the purchase of the James A. FitzPatrick Nuclear Power Plant in Scriba, New York. With the approval of the CES, Exelon will continue its negotiations with Entergy for the purchase of the plant, which is otherwise at risk of closure.