Pennsylvania has one of the most competitive energy markets in the country, benefiting consumers across the commonwealth. However, the nuclear industry, owned by out-of-state corporations such as Exelon, is calling on the government — and taxpayers — for a bailout.
The bailout would mean higher energy costs for all consumers, including Pennsylvania senior citizens, manufacturers, small businesses and public institutions such as transit systems, hospitals and schools.
The demand for expensive nuclear power is continually declining as cleaner, more affordable methods of power generation fill the void. A bailout for nuclear power plants will drive up your rates, potentially leaving eastern U.S. consumers on the hook for as much as $3.9 billion in higher energy bills.
Following the deregulation of Pennsylvania’s electric markets and after already having received more than $10 billion from ratepayers to recover “stranded” costs, the nuclear generation industry boasted about how well it could compete in the wholesale market and kept the profits. Now, when market conditions have changed, it has returned with an outstretched hand for ratepayer subsidies and a bailout.