The legislation funnels $235 million a year to power-producing giant Exelon Corp. for 13 years. The money subsidizes unprofitable nuclear plants in Clinton and the Quad Cities that Exelon said would be shuttered over the next 18 months.
Opponents argued that it was wrong to subsidize a company that remains profitable, and that coal-fired power companies haven’t gotten such help. They also argued it will cost consumers.
“Here we go again, picking winners and losers,” said Sen. Kyle McCarter, R-Lebanon. “The money has to come from somewhere. This is a bailout for a very profitable company.”