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Exelon : Byron's Nuclear Refueling Outages a Windfall for Area Economy

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10/02/2017 | 05:05pm CEST
BYRON, Ill. - Exelon Generation operators removed Byron Station Unit 2 from service early this morning, kicking off the station's fall refueling and maintenance outage. When one of Byron Station's dual nuclear reactors is taken offline for scheduled refueling, it's great news for local businesses and the regional economy. When both reactors are refueled in the same calendar year, as is happening now, it creates an economic windfall of major proportions, generating more than 2,500 seasonal jobs, filling restaurants and hotels to capacity and helping local businesses thrive.

'The influx of additional workers really helps our business,' said Robin Costa, who owns Costa's Pizzeria & Ristorante in Byron with her husband, Saro. The couple opened Costa's 26 years ago and they see about a 10 percent boost in sales during each Byron Station outage. 'It's like Christmas coming twice.'

During the outage, technicians will replace approximately one-third of the reactor's fuel and upgrade plant equipment to keep the facility running at world-class levels of safety and operational excellence.

'Exelon Generation's nuclear refueling and maintenance outages are a win-win for consumers and local communities across the state,' said Tom Chalmers, acting site vice president for Byron Station. 'The maintenance activities and inspections underway now will help us remain online safely and reliably for another 18 months, and the additional workforce generates millions for local businesses.'

During the outage, Byron employees and highly skilled supplemental workers will replace portions of the Unit 2 turbine system and perform preventative maintenance. Byron's Unit 1 will continue to supply carbon-free electricity during the Unit 2 outage.

'When Byron has a refueling outage, we see a big boost here in Rockford,' said John Groh, president and CEO of the Rockford Area Convention & Visitors Bureau. 'In the weeks leading up to and during the outage many Rockford hotels and restaurants are at full capacity. Byron Station is a great asset in our region.'

Byron Station supports approximately 5,100 direct and secondary jobs in Illinois, and the facility contributes $1.7 billion to the state's economy annually. The plant generates nearly 2,300 megawatts of electricity, enough for more than two million homes. Exelon Generation's six nuclear stations in Illinois inject nearly $9 billion into the state economy each year while providing 90 percent of the state's carbon-free power. To learn more about the vital role nuclear plays in supplying electricity to Illinois and the tremendous benefits it provides families and communities, visit nuclearpowersillinois.com. Byron Generating Station is in Ogle County, Ill., about 25 miles southwest of Rockford. Follow Exelon Nuclear on Twitter and You Tube.

Exelon Corporation published this content on 02 October 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 02 October 2017 15:04:15 UTC.

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Financials ($)
Sales 2017 31 711 M
EBIT 2017 5 184 M
Net income 2017 2 602 M
Debt 2017 35 166 M
Yield 2017 3,33%
P/E ratio 2017 14,80
P/E ratio 2018 13,68
EV / Sales 2017 2,31x
EV / Sales 2018 2,30x
Capitalization 38 019 M
Duration : Period :
Exelon Corporation Technical Analysis Chart | EXC | US30161N1019 | 4-Traders
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Average target price 41,3 $
Spread / Average Target 4,2%
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Christopher M. Crane President, Chief Executive Officer & Director
Mayo A. Shattuck Independent Chairman
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Michael R. Koehler Senior VP, Chief Information & Digital Officer
John Washington Rogers Independent Director
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