Skip to main content

The Economic Value of Nuclear Energy in Illinois

Exelon made its case – see post below – and now we get a chance to look more deeply into the economic impact of the company’s 11 nuclear reactors (not to mention its corporate headquarters) in Illinois. NEI has released a report containing an independent analysis using a nationally recognized model to estimate the facilities’ economic impacts on the Illinois economy.

Consider:

Thousands of high-skilled jobs. Exelon employs 5,900 people at its nuclear energy facilities in Illinois. This direct employment creates about 21,700 additional jobs in other industries in the state. A total of nearly 28,000 jobs in Illinois are a result of Exelon’s nuclear operations.

Economic stimulus. Exelon’s Illinois nuclear plants are estimated to generate $8.9 billion of total economic output annually, which contributes $6.0 billion to Illinois’ gross state product each year. This study finds that for every dollar of output from Exelon’s Illinois facilities, the state economy produces $1.65.

Tax impacts. Exelon’s nuclear facilities in Illinois are estimated to contribute about $290 million in state and local taxes, and nearly $1.1 billion in federal taxes each year.

But the report has a sobering message, too.

In 2016 alone, the early retirement of the Byron, Clinton and Quad Cities nuclear energy facilities would result in a loss of nearly $4 billion of direct and indirect economic output in Illinois. The losses would increase each year thereafter and reach almost $5 billion in direct and secondary output by 2030. The number of direct and secondary jobs lost increases over a five-year period, peaking in the fifth year after the plants close, to more than 13,000 jobs lost in Illinois.

And that’s just a taster. Exelon made an excellent case for the value its facilities provides Illinois as a producer of carbon-emission free electricity. In a way, this is the rest of the story. By all means, download and read the whole report.

Comments

Popular posts from this blog

Missing the Point about Pennsylvania’s Nuclear Plants

A group that includes oil and gas companies in Pennsylvania released a study on Monday that argues that twenty years ago, planners underestimated the value of nuclear plants in the electricity market. According to the group, that means the state should now let the plants close.

Huh?

The question confronting the state now isn’t what the companies that owned the reactors at the time of de-regulation got or didn’t get. It’s not a question of whether they were profitable in the '80s, '90s and '00s. It’s about now. Business works by looking at the present and making projections about the future.

Is losing the nuclear plants what’s best for the state going forward?

Pennsylvania needs clean air. It needs jobs. And it needs protection against over-reliance on a single fuel source.


What the reactors need is recognition of all the value they provide. The electricity market is depressed, and if electricity is treated as a simple commodity, with no regard for its benefit to clean air o…

How Nanomaterials Can Make Nuclear Reactors Safer and More Efficient

The following is a guest post from Matt Wald, senior communications advisor at NEI. Follow Matt on Twitter at @MattLWald.

From the batteries in our cell phones to the clothes on our backs, "nanomaterials" that are designed molecule by molecule are working their way into our economy and our lives. Now there’s some promising work on new materials for nuclear reactors.

Reactors are a tough environment. The sub atomic particles that sustain the chain reaction, neutrons, are great for splitting additional uranium atoms, but not all of them hit a uranium atom; some of them end up in various metal components of the reactor. The metal is usually a crystalline structure, meaning it is as orderly as a ladder or a sheet of graph paper, but the neutrons rearrange the atoms, leaving some infinitesimal voids in the structure and some areas of extra density. The components literally grow, getting longer and thicker. The phenomenon is well understood and designers compensate for it with a …

A Billion Miles Under Nuclear Energy (Updated)

And the winner is…Cassini-Huygens, in triple overtime.

The spaceship conceived in 1982 and launched fifteen years later, will crash into Saturn on September 15, after a mission of 19 years and 355 days, powered by the audacity and technical prowess of scientists and engineers from 17 different countries, and 72 pounds of plutonium.

The mission was so successful that it was extended three times; it was intended to last only until 2008.

Since April, the ship has been continuing to orbit Saturn, swinging through the 1,500-mile gap between the planet and its rings, an area not previously explored. This is a good maneuver for a spaceship nearing the end of its mission, since colliding with a rock could end things early.

Cassini will dive a little deeper and plunge toward Saturn’s surface, where it will transmit data until it burns up in the planet’s atmosphere. The radio signal will arrive here early Friday morning, Eastern time. A NASA video explains.

In the years since Cassini has launc…