HB11 throws ratepayer money at already profitable nuclear corporations

Citizens Against Nuclear Bailouts has issued the following statement in response to the introduction of House Bill 11, a nuclear bailout proposal released today by State Rep. Tom Mehaffie.

“Pennsylvania legislators must ask themselves this question: side with already profitable nuclear corporations, or oppose House Bill 11 and stand with constituents in opposition to this proposed legislation that will raise consumer electricity bills significantly?

“The lead sponsor of this bill has confirmed a price tag of at least an additional $500 million, year after year, INDEFINITELY, in higher electricity costs, hurting Pennsylvania’s most vulnerable citizens, including seniors and those on low or fixed incomes, as well as small businesses and manufacturers.

“The notion that if we do nothing nuclear power plants will simultaneously shut down and prices will be impacted is disingenuous at best — Exelon, FirstEnergy Solutions and Talen Energy are making too much money to justify shutting down.

“The PJM Interconnection Independent Market Monitor projects that Pennsylvania’s five nuclear power plants collectively netted more than $640 million in profits in 2018, and Peach Bottom nuclear power plant recently applied to extend its license through 2054.

“What does Rep. Mehaffie know that industry experts who have all testified that competition and reliability aren’t a problem do not to justify this nuclear bailout cash grab.

“The Alternative Energy Portfolio Standard (AEPS) was intended to advance the development of new and innovative technology, not to bail out old technology developed in the 1960s that is leaving a generational legacy of nuclear waste. Furthermore, nuclear power relies largely on imported uranium from foreign interests, including Russia, Kazakhstan and Uzbekistan.

“Adding already profitable nuclear power plants to the AEPS is a bailout that would significantly increase consumer electricity prices, eliminate consumer choice and fundamentally change the way Pennsylvania’s competitive energy markets operate.”

Lawmakers need to leave boardroom decisions out of legislation. We urge them to stand with Pennsylvania ratepayers to say NO to a nuclear bailout.

Past updates

PA legislators seek support for nuclear bailout tax that would pad pockets of profitable corporations

Citizens Against Nuclear Bailouts urges lawmakers to protect ratepayers from the harm of a nuclear energy bailout

Tell lawmakers to say No Nuke Bailout

Citizens Against Nuclear Bailouts (CANB) has issued the following statement in response to Sen. Aument's and Rep. Mehaffie's co-sponsorship memos, which each outlines legislative actions intended to bail out certain nuclear power generation facilities in Pennsylvania.

Recently, a co-sponsorship memo was circulated in the legislature that outlines a course of legislative action that would burden Pennsylvania consumers with higher electricity bills to fund a nuclear bailout tax, which would benefit already profitable nuclear power corporations.

Citizens Against Nuclear Bailouts — a diverse coalition of Pennsylvania citizens’ groups, energy consumers, power generators and energy, business and manufacturing associations — calls into question the need for a nuclear bailout tax when Pennsylvania’s nuclear power plants are projected to have made more than $600 million in profits in 2018, according to PJM Interconnection's Independent Market Monitor.

Four of Pennsylvania’s five nuclear power plants were profitable with the exception of Exelon’s Three Mile Island (TMI), a single reactor that is inefficient and uncompetitive.

PA nuclear plants are profitable

TMI should either be closed or Exelon should use a fraction of its own hundreds of millions of dollars in profits to subsidize the plant instead of turning yet again to consumers for a handout.

This is a boardroom decision to close TMI, not a legislative issue, and ultimately this latest plea for a bailout is nothing more than corporate greed disguised as green.

Proponents will claim adding nuclear power generation to Pennsylvania’s Alternative Energy Portfolio Standards (AEPS) is not a bailout. However, a subsidy from consumers simply so that corporations can increase their profits is clearly a bailout no matter how it is derived or what it’s called.

This proposal will essentially re-regulate Pennsylvania’s competitive electricity markets by taking away consumer choice and forcing consumers to buy nuclear energy--no matter the cost.

We urge lawmakers to reject this nuclear bailout tax that will raise electricity bills, and allow competitive markets to continue to work for Pennsylvania’s consumers.