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4-Traders Homepage  >  Equities  >  Nyse  >  Exelon Corporation    EXC

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Exelon : Clinton High rolling out red carpet for Wednesday bill signing

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12/06/2016 | 04:46pm CET

Dec. 06--CLINTON -- Gov. Bruce Rauner will sign the Future Energy Jobs bill -- legislation that keeps the Clinton nuclear power plant open for at least 10 more years -- around 2 p.m. Wednesday at the Clinton High School gymnasium.

The power plant's value provides $8.3 million in property taxes annually to the Clinton school district, or about 53 percent of its assessed valuation.

Clinton High Principal Jerry Wayne said the student body has been invited to take part in the ceremony, as well as the band, under the direction of Nathan Wheeler.

"It is absolutely a great feeling," Wayne said. "I appreciate all the work that our legislators have done to get this bill enacted and to ensure our students receive a great education."

The information about Rauner's appearance Wednesday first was posted on the Clinton Chamber of Commerce's Facebook page.

The legislation, which was pushed by Exelon Corp., owner of the Clinton and Quad Cities nuclear plants, passed the House and Senate on Thursday night.

Exelon officials have said that the bill would preserve 700 jobs at the Clinton plant for the next decade and 4,200 related jobs across the state.

Clinton Superintendent Curt Nettles will introduce the governor, who after signing will deliver a speech to students and general public in attendance.

Following Rauner's talk, state Rep. Bill Mitchell and state Sen. Chapin Rose will give remarks.

The Nuclear Energy Institute called passage of the bill "a remarkable moment for the people of Illinois and for thousands of nuclear energy industry employees."

It said the legislation would preserve more than $1.2 billion in annual economic activity across Illinois.

"Despite characterizations by opposition that this legislation constitutes a bailout, to the contrary, it is an investment in Illinois' clean energy future. The bill levels the playing field for nuclear energy with other carbon-free energy sources," the group said. "The clean energy benefits from this action are significant. Between them, the Clinton and Quad Cities facilities prevent the emission of more than 20 million metric tons of carbon dioxide a year -- the equivalent of taking nearly 5 million cars off the road."

___

(c)2016 The News-Gazette (Champaign, Ill.)

Visit The News-Gazette (Champaign, Ill.) at www.news-gazette.com

Distributed by Tribune Content Agency, LLC.

© Tribune Content Agency, source Regional News

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Financials ($)
Sales 2016 30 282 M
EBIT 2016 4 942 M
Net income 2016 2 450 M
Debt 2016 34 916 M
Yield 2016 3,79%
P/E ratio 2016 14,09
P/E ratio 2017 12,99
EV / Sales 2016 2,17x
EV / Sales 2017 2,07x
Capitalization 30 763 M
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Mean consensus OUTPERFORM
Number of Analysts 22
Average target price 36,9 $
Spread / Average Target 11%
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Christopher M. Crane President, Chief Executive Officer & Director
Mayo A. Shattuck Independent Chairman
Jonathan W. Thayer Chief Financial Officer & Senior Executive VP
Michael R. Koehler Chief Information & Digital Officer
John Washington Rogers Independent Director
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