CANB response: HB11 throws ratepayer money at already profitable nuclear corporations

HARRISBURG, Pa. (March 11) – Citizens Against Nuclear Bailouts (CANB) 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.

-Citizens Against Nuclear Bailouts

Citizens Against Nuclear Bailouts is a diverse coalition of Pennsylvania citizens’ groups, power generators, and energy, business and manufacturing associations.