SB 2408 seeks to decarbonize the Illinois energy sector by closing private coal plants by 2030. Municipally-owned plants must close by 2045. The Prairie State Energy Campus in the Metro East and Springfield’s CWLP coal plants must also reduce 45% of the carbon emissions by 2035. If this goal is not achieved, the plants have until 2038 to reach the target, or they must retire one of their generating towers. Both plants would face a definitive closure date of 2045.
The proposal includes a $40 million grant program to help mitigate the impacts of closing nuclear and fossil fuel plants.
Per the legislation, Exelon would receive a $694 million bailout to keep the nuclear fleet running for another five years.
ISACo has no position on the legislation.
The Senate will convene on Monday, September 13 to debate and vote on SB 2408.
Please click on this link for a more substantive summary of the legislation.