This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Exelon Responds To Wind Subsidy Phase-Out Plan

Exelon Corporation today released the following statement in response to the American Wind Energy Association’s (AWEA) proposal to phase out the wind production tax credit (PTC):

The proposal which the American Wind Energy Association (AWEA) has offered for 'phasing-out' the federal wind energy production tax credit (PTC) is completely unacceptable. Rather than a reasonable phase-out, AWEA is essentially asking for a 6-year extension of the now 20-year old PTC – at either the full or nearly full level of the current PTC. In fact, in the last year of AWEA’s proposal, the PTC would still be available at 60 percent of its current level. Further, just for the first year alone of AWEA’s proposal, the cost to American taxpayers would be more than $12 billion.”

“AWEA’s proposal should be viewed by Congress as a non-starter for any phase-out discussion,” said Joseph Dominguez, Exelon Senior Vice President for Government & Regulatory Affairs and Public Policy. “We are especially disappointed by this proposal, given that AWEA previously indicated that a 2-year extension would suffice,” he added.

“The 20-year old PTC was originally designed to jumpstart the wind energy industry. Even if it is allowed to expire at the end of this year (as called for under current law), wind projects that are eligible for the credit before its expiration will continue to receive it for another 10 years. The wind energy industry has matured and is thriving today; the PTC is simply no longer needed. Further, because of the pricing advantage that the PTC provides to wind energy projects in today’s competitive energy markets, the credit actually puts at risk the operation of other, more reliable clean energy sources.”

Exelon Corporation (NYSE: EXC) is the nation’s leading competitive energy provider, with approximately $33 billion in annual revenues. Headquartered in Chicago, Exelon has operations and business activities in 47 states, the District of Columbia and Canada. Exelon is the largest competitive U.S. power generator, with approximately 35,000 megawatts of owned 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 100,000 business and public sector customers and approximately 1 million residential customers. Exelon’s utilities deliver electricity and natural gas to more than 6.6 million customers in central Maryland (BGE), northern Illinois (ComEd) and southeastern Pennsylvania (PECO).



1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,070.40 +46.34 0.26%
S&P 500 2,114.49 +6.20 0.29%
NASDAQ 5,016.9290 +11.5380 0.23%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs