Earlier this week, the Illinois General Assembly approved a landmark energy bill that will have ripple effects in Ohio and throughout the PJM power grid territory. The Illinois Manufacturers Association opposed the bill, saying it would result in the largest electricity rate hike in the state’s history.
Among provisions of interest to Ohio manufacturers are restrictions that will phase out the Prairie State Energy Campus, which supplies many of Ohio’s municipal-owned power companies. Prairie State costs have hiked customer power bills in recent years. A new report suggests customers may be better off with the plant closed; however, Ohio municipalities will continue to be obligated to service bonds even if the plant closes.
Similar to Ohio’s House Bill 6, the Illinois legislation provides for nearly $700 million in subsidies over five years to three nuclear power plants that operate within the PJM market. 9/16/2021