Exelon CEO: No grid emergency to justify DOE coal, nuke bailout

The CEO of the largest nuclear generator in the U.S. says the retirement of coal and nuclear plants does not constitute a grid emergency that warrants urgent intervention from the federal government, as President Donald Trump directed last week. Exelon CEO Chris Crane said the case for a grid emergency is difficult to make in the PJM Interconnection, the site of many potential retirements, when its reserve margin remains so high — 22% in its latest capacity auction. The company has not advocated for emergency action to save plants from retirement, he said. Crane said Exelon would rather work with the Federal Energy Regulatory Commission and regional grid operators to devise market-based plans to value resilience attributes of generators, but with more guidance from DOE and other federal agencies as to the specific nature of national security threats to the grid.