Nuclear Energy Information Service
Illinois' Nuclear Power Watchdog for 25 Years

Pass the Renewable Energy Standard

Save Consumers Money by Avoiding Costly Subsidies

June 5, 2003

To the Editors,

In recent debate over Illinois' "renewable energy portfolio standard" legislation - a law that would require utilities to buy 5% of their electricity from renewable sources by 2010 and 15% by 2020 - nuclear utility giant Exelon Corporation's Chairman, John Rowe, reportedly questioned whether consumers would be willing to pay higher costs for renewable energy.

"Wind power is the only renewable [source] that's anywhere near competitive...And nobody knows how much of that the public will stand for," Rowe recently stated. ["Utilities balk at renewable fuel goals," May 28, 2003, by Melita Marie Garza, Chicago Tribune]

Yet, Exelon and other nuclear utilities are fiercely supporting federal energy legislation (S.14) that would lavish taxpayer-funded welfare on nuclear power by:

o Using taxpayer money to construct NEW nuclear reactors - like the one Exelon wants to build at Clinton, IL . Taxpayer loans would cover up to 50% of construction costs for 8-10 reactors. The Congressional Budget Office says the risk of default on taxpayer loans in S.14 is well above 50%. Nearly $30 Billion could be spent under this Bush-sponsored Nuclear Power 2010 program.

o Indefinitely extending the nuclear industry's taxpayer subsidized insurance policy, the Price-Anderson Act, which protects nuclear utilities from full potential costs of catastrophic nuclear accidents.

o Authorizing $1 Billion to build a new hydrogen production reactor for Bush's Hydrogen Initiative, even though quicker, cheaper, and less environmentally harmful ways exist to generate hydrogen.

o Funding the Advanced Fuel Cycle Initiative which would start "reprocessing" old reactor fuel, worsening the international nuclear proliferation picture.

This subsidy sucking at the public trough by the 50-year old, trillion-dollar nuclear industry met no House opposition from ANY of Illinois' alleged Republican fiscal conservatives. Hopefully Illinois' Senators will show more sympathy for taxpayers.

One simple question for John Rowe and the other nuclear vampires - how much of this is the public supposed to stand for?

Stop Clinton. Pass the Renewable Energy Portfolio Standard..

(299 words)

Sincerely,

David A. Kraft
Director
Nuclear Energy Information Service
845 Chicago Avenue, Ste. 207
Evanston, IL 60202
(847)869-7650; -7658 fax
neis@neis.org

Utilities balk at renewable fuel goals
May 28, 2003
Minimum of 5% sought by 2010
By Melita Marie Garza
Tribune staff reporter

Back to the top of this Page