Internal Memo: Nuclear Power Company Could Make A Billion A Year From Climate Change Law

Exelon, the nation's largest nuclear power company, stands to rake in roughly an extra $1 billion to $1.5 billion a year if the House climate change bill passes, according to the company's own estimates. The House is expected to vote on the bill on Friday. A memo produced for Exelon by Bernstein Research, and obtained by the Huffington Post, reports that Exelon CEO John Rowe recently told a gathering of investors and senior executives that the energy bill "will add $700 to $750 million to Exelon's annual revenues for every $10 per metric ton (MT) increase in the price of CO2 allowances." Prices will range between $15 and $18 per metric ton, the report estimates, "implying a positive earnings impact of $1 to $1.30 per share." Read the full memo. Exelon, with a major presence in Illinois, was an early backer of President Barack Obama's. "Barack has one of his biggest supporters in terms of funding, the Exelon Corporation, which has spent millions of dollars trying to make Yucca Mountain the ... (link)