Exelon’s Paltry Settlement for Bribery Allegations Harms Consumers
Statement of Tyson Slocum, Energy Program Director, Public Citizen
Exelon’s agreement to pay $200 million to settle bribery allegations is a paltry sum. The company’s successful lobbying blitz to pass controversial Illinois legislation in 2016 provided massive ratepayer-funded bailouts of its inefficient nuclear power plants – and forced ratepayers to fork over $235 million a year to Exelon for 10 years starting in 2017. This settlement is pennies on the dollar for what Exelon will earn off the bailouts.