SPRINGFIELD, Ill.--(BUSINESS WIRE)--

Exelon Generation and ComEd today announced significant progress toward achieving a streamlined version of the Future Energy Jobs Bill that will reduce costs and address feedback gathered from a broad cross-section of stakeholders since the bill was introduced and conditionally passed by a 9 to 1 vote at last week’s Illinois House Energy Committee hearing.

The proposed changes maintain important provisions to boost the state’s economy, support low-income programs, preserve 4,200 jobs at Exelon’s Clinton and Quad Cities nuclear plants and create thousands of new clean energy jobs by advancing renewable energy development and expanding energy efficiency programs. They also reflect feedback received from the governor’s office, legislative staff and through continuing discussions and collaboration among environmental groups, renewable energy developers, faith organizations, consumer advocates, business groups, utilities, community leaders, policymakers and legislative staff, among others.

Though the legislation continues to be refined, proposed changes include:

• Eliminating the demand based rates provision
• Eliminating the Fixed Resource Adequacy Plan, or FRAP, but reserving for discussion a proposal to achieve a solution sometime in the near future
• Ensuring that the Zero Emissions Standard proposal will preserve Exelon’s Illinois nuclear plants for at least 10 years and include even stronger consumer protections
• Reducing the number of proposed microgrids from five to three
• Expanding rebates for community solar, and commercial and industrial solar installations

ComEd and Exelon continue to address in earnest an open item of concern among some business community members about the impacts this legislation will have on competitive rates in Illinois.

“We have said from the beginning that we wanted the Future Energy Jobs Bill to bring diverse ideas and constituents together to arrive at a comprehensive plan to address the state’s complex energy and economic challenges,” said Joe Dominguez, Exelon’s executive vice president, Governmental and Regulatory Affairs and Public Policy. “In the past week, we have heard from groups and individuals representing a broad cross-section of interests. We have listened to what they had to say and have made changes to the bill based on their input. The proposals emerging today will strengthen Illinois’ commitment to clean energy, deliver billions of dollars in savings from energy efficiency, provide needed support for low-income residents, retain $1.2 billion in economic activity associated with the Quad Cities and Clinton nuclear plants and create thousands of jobs to support our economy.”

“We have been working for more than a year and a half on this legislation with stakeholders representing government, environment, consumers, communities and businesses,” said Fidel Marquez, senior vice president, government and external affairs, ComEd. “We have listened and heard the issues presented at the recent hearing and worked with staff to make revisions to the bill so that it is better for everyone. We’re encouraged by the progress we have made toward achieving a clean, reliable and affordable energy future for our customers. We look forward to continuing this work so that we can deliver innovative solutions that bring value to our customers, state, business community and environment.”

The legislation will continue to undergo revisions prior to the start of the Veto session, which begins Nov. 29. For more information, visit futureenergyjobsbill.com.

Exelon Corporation (NYSE: EXC) is a Fortune 100 energy company with the largest number of utility customers in the U.S. Exelon does business in 48 states, the District of Columbia and Canada and had 2015 revenue of $34.5 billion. Exelon’s six utilities deliver electricity and natural gas to approximately 10 million customers in Delaware, the District of Columbia, Illinois, Maryland, New Jersey and Pennsylvania through its Atlantic City Electric, BGE, ComEd, Delmarva Power, PECO and Pepco subsidiaries. Exelon is one of the largest competitive U.S. power generators, with more than 32,700 megawatts of nuclear, gas, wind, solar and hydroelectric generating capacity comprising one of the nation’s cleanest and lowest-cost power generation fleets. The company’s Constellation business unit provides energy products and services to approximately 2.5 million residential, public sector and business customers, including more than two-thirds of the Fortune 100. Follow Exelon on Twitter @Exelon.

Commonwealth Edison Company (ComEd) is a unit of Chicago-based Exelon Corporation (NYSE: EXC), the nation’s leading competitive energy provider, with approximately 10 million customers. ComEd provides service to approximately 3.8 million customers across northern Illinois, or 70 percent of the state’s population. For more information visit ComEd.com, and connect with the company on Facebook, Twitter and YouTube.

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