Exelon Corporation
Energy & Utilities |
Energy
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Recent News About Exelon Corporation
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A federal judge ruled granting Exelon's request for an appeal to answer potentially important legal questions in the case could slow the litigation
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Federal judge says the shareholder plaintiffs have done enough so far to demonstrate ComEd allegedly willfully concealed the alleged bribery scheme from its shareholders.
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ComEd is telling a judge he should pull the plug on multimillion-dollar class action suits, which allege ComEd bribed state Democratic figures to jack up electric rates, because the rates were authorized by the Illinois Commerce Commission.
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Several Chicago building owners say electric rates skyrocketed, while ComEd pocketed hundreds of millions in profits, thanks to its allegedly successful efforts to allegedly bribe Illinois House Speaker Michael Madigan by hiring his allies.
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Federal prosecutors said Madigan, through his associates, demanded "old fashioned patronage" for his associates and allies in exchange for supporting legislation that steered hundreds of millions of dollars from electrical customers to ComEd.
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A group of Exelon investors have filed suit against the parent company of electrical utility ComEd, asserting the company’s potentially corrupt state lobbying activities in Springfield artificially inflated the company’s stock price, setting investors up for losses when the federal investigation into those activities came to light.
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Specialists once employed by Exelon are suing the Chicago-headquartered power provider and three staffing companies in federal court, alleging defendants short-circuited labor law by withholding overtime pay.
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A group of electrical power generators have asked the U.S. Supreme Court step in and unplug “zero emissions credit” subsidy programs in Illinois and elsewhere, arguing the state programs intrude on federal regulatory turf and unconstitutionally rig wholesale electricity generation and supply markets to prop up nuclear power plants that should otherwise be retired.
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A federal appellate court has affirmed a Chicago federal judge’s ruling that switched off suits by a group of electricity producers and Chicago-area power consumers, which sought to invalidate a state law requiring coal and gas burning electricity companies buy credits to prop up two failing Exelon nuclear plants, saying the law doesn’t infringe on federal regulatory prerogatives.
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A man man is suing Exelon Corporation, and related entities for alleged negligence after he injured his foot on a scaffolding.
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Following the dismissal of lawsuits brought against the State of Illinois by power generators and electricity consumers who claimed the Future Energy Jobs Act deceptively supplies markets in favor of energy company Exelon, Steve Cicala, an assistant professor at the University of Chicago Harris School of Public Policy, says the state's policy is short-sighted and will be problematic for taxpayers.
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Saying the law could both simultaneously be a subsidy designed to prop up two Illinois nuclear power plants and a legitimate attempt to reduce carbon emissions, a Chicago federal judge has pulled the plug on attempts by a group of power generators and electricity consumers to challenge a recent state law the plaintiffs claimed unconstitutionally used “green energy” goals as a pretext to rig the wholesale electricity generation and supply markets in favor of electricity generation giant Exelon.
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Even as Illinois state electricity regulators have asked a federal judge to dismiss a lawsuit alleging a state law unconstitutionally rigs the wholesale electricity generation and supply markets in favor of electricity generation giant Exelon, a prominent environmental activist organization has also stepped into the court fight, asking the court to allow it to defend the law’s renewable energy requirements, which it says the lawsuit also threatens.
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Two months since Illinois lawmakers and Gov. Bruce Rauner signed off on a bailout bill they said was needed to ensure the viability of two Exelon nuclear electricity plants, two lawsuits filed in federal court have challenged the constitutionality of the legislation, alleging the law effectively rigs in Exelon’s favor wholesale electricity generation and supply markets, resulting in a a windfall for Exelon over the next 10 years, paid for by Illinois businesses and households.
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In early December, Democrats and Republicans in Springfield, including Gov. Bruce Rauner, agreed on an energy bailout bill in the Legislature to keep two Exelon nuclear generator plants operating at a cost of as much as $4.54 per month per Illinois ratepayer. But a Chicago lawyer who has advised industrial businesses and governments on energy-related issues for more than two decades said the 503-page bailout bill, which rewrote major provisions of both the Illinois Public Utilities Act and the Illinois Power Agency Act, should have received a more thorough review before becoming law.
