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Economic benefits study_exelon il nuclear fleet

The Impact of Exelon's
Nuclear Fleet on the Illinois
Economy
An Analysis by the Nuclear Energy Institute


October 2014
Contents

Executive Summary
Section 1
Background and Electricity Generation History Section 2
Section 3
Economic Impacts of Byron, Clinton and Section 4
Community
Section 5
Exelon and the U.S. Nuclear Industry Section 6
Conclusion
Nuclear Energy Institute 1201 F St., NW, Suite 1100, Washington, DC 20004-1218 The Impact of Exelon's Nuclear Fleet on the Illinois Economy Executive Summary
Exelon Corp. owns and operates six nuclear energy facilities (11 reactors) in
Illinois:
Braidwood Generating Station in Will County (two reactors)
Byron Generating Station in Ogle County (two reactors)
Nearly 28,000 jobs in
Clinton Power Station in DeWitt County (one reactor) Dresden Generating Station in Grundy County (two reactors) Illinois are a result
LaSalle County Generating Station in LaSalle County (two reactors) of Exelon's nuclear Quad C
ities Generating Station in Rock Island County (two reactors) operations.
Exelon Nuclear, a business unit of Exelon Corp., manages the company's nucle-ar business at its Cantera corporate offices in Warrenville, Illinois, in DuPage County. The six nuclear facilities and Exelon's headquarters have been an integral part of the region's clean energy portfolio and economic fabric since the 1970s. In addition to the reliable, emission-free electricity that the plants generate and the jobs and economic stimulus they provide, the company's involvement in its local communities makes them significant economic contributors to Illinois and the Midwest. To quantify the employment and economic impact of these facilities, the Nucle-ar Energy Institute (NEI) conducted an independent analysis. Based on data provided by Exelon Nuclear on employment, operating expenditures, revenues and tax payments, NEI conducted the analysis using a nationally recognized model to estimate the facilities' economic impacts on the Illinois economy. Re-gional Economic Models, Inc. (REMI) developed the Policy Insight Plus (PI+) economic impact modeling system, the methodology employed in this analysis. Exelon's Illinois nuclear
(See section 6 of this report for more information on the REMI methodology.) plants are estimated
Key Findings
to generate $8.9 billion
of total economic Exelon's
Illinois nuclear operations support: output annually.

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. The Impact of Exelon's Nuclear Fleet on the Illinois Economy 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. Exelon's nuclear
Clean electricity for Illinois. The six nuclear facilities generate about 48 per-
headquarters and the
cent of Illinois' electricity and about 90 percent of the state's carbon-free operations of the 11
electricity. Without the carbon-free electricity produced by these nuclear plants, an additional 80 million metric tons of carbon dioxide would be re- reactors result in a total
leased annually, the equivalent of the emissions from more than 15 million tax impact of cars each
year. For perspective, Illinois' electric sector emits more than 94 million tons of carbon dioxide annually. Without the nuclear plants, CO2 approximately $1.4 billion
emissions associated with Illinois' electric sector could double. to the local, state and

Reliability leaders. During full-power operations, the 11 reactors provide
federal governments each
11,541 megawatts of around-the-clock electricity for Illinois homes and businesses. Over the last 10 years, the facilities have operated at 96 per-cent of capacity, which is above the industry average and significantly high-er than all other forms of electric generation. This reliable production helps offset the potentially severe price volatility of other energy sources (e.g., natural gas) and the intermittency of renewable electricity sources. Nuclear energy provides reliable electricity to businesses and consumers and helps prevent power disruptions which could lead to lost economic output, higher business costs, potential loss of jobs, and losses to consumers. Balanced portfolio of electricity options. Nuclear energy produces 48 per-
cent of Illinois' electricity, and the 11 nuclear reactors play an important role in maintaining a balanced electric portfolio in the state. Without the carbon-free
electricity produced by
Community and environmental leadership. Exelon is a corporate leader in
its neighboring communities, supporting education initiatives, environmen- these nuclear plants, an
tal and conservation projects, and numerous charitable organizations. additional 80 million
In addition to quantifying the economic impacts of the Exelon Illinois fleet, this metric tons of carbon
analysis modeled the adverse effects to the state if the Byron, Clinton and Quad dioxide would be released
Cities plants shut down prematurely in 2016. A combination of economic and annually, the equivalent
policy factors has created potentially fatal economic headwinds for these three plants. The results show that Byron, Clinton and Quad Cities are integral to the of the emissions from
local and state economies. Since nuclear plants often are the largest, or one of more than 15 million cars
the largest, employers in the regions in which they operate, the loss of a nucle-ar power plant has lasting, negative economic ramifications. each year.
If Byron, Clinton and Quad Cities close prematurely this analysis found that the initial output losses to Illinois would be $3.6 billion. The output losses would increase annually and, by 2030, reach $4.8 billion. The number of direct and secondary jobs lost peaks in the fifth year after the plants close: 13,300 jobs lost in Illinois. Losses would reverberate for decades after the premature plant closures, and host communities may never fully recover. The Impact of Exelon's Nuclear Fleet on the Illinois Economy

Section 1
Background and Generation History

Reliable Electricity Generation

Exelon's 11 nuclear reactors have operated at capacity factors above the
industry average for more than a decade. In 2013, the 11 reactors operat-
ed at an average capacity factor of 95.9 percent. Capacity factor, a meas-
ure of electricity production efficiency, is the ratio of actual electricity gen-
erated to the maximum possible electric generation during the year.
Illinois ranked first in the nation in 2013 in both generating capacity and
Braidwood Generating Station
net electricity generation from nuclear power. Generation from the state's nuclear power plants accounted for over 12 percent of the nation's nuclear First dates of operation Braidwood 1 - 1988 Braidwood 2 - 1988 Exelon's nuclear plants in Illinois generated nearly 100 million megawatt- 60 miles southwest of Chicago hours of electricity in 2013—about 48 percent of the electricity generated License Expiration Years in the state that year. The 11 reactors provide enough electricity for more Braidwood 1 - 2026 than seven million people year-round, or 10.5 million households if all of Braidwood 2 - 2027 the electricity went to the residential sector. Reactor Types Pressurized water Total Electrical Capacity (Megawatts) In addition to providing abundant electricity, the 11 reactors generate low- Braidwood 1 - 1,178 cost electricity, which helps keep retail prices for customers 20 percent Braidwood 2 - 1,152 lower than the U.S. average. In 2012, Illinois customers paid eight cents per kilowatt-hour for electricity compared to the U.S. average of ten cents
per kilowatt-hour.1
Thousands of High-Skilled, Well-Paying Local Jobs
The Exelon nuclear plants provide affordable electricity to Illinois and a
large number of well-paying jobs in their host counties. The six Exelon Nu-
clear facilities and nuclear headquarters in Illinois (Braidwood, Byron, Clin-
ton, Dresden, LaSalle, Quad Cities and Cantera) employ about 5,900 peo-
ple full-time in Illinois. On average, approximately 30 percent of the work- Byron Generating Station
ers at each of the Exelon facilities in Illinois live in the host county of the First dates of operation facility at which they are employed. The Exelon plants also employ many people from nearby counties. Approximately 65 percent of the workers at each of the Exelon facilities live within a three-county radius of each site. 17 miles southwest of Rockford Jobs provided by the nuclear facilities typically pay more than most jobs in License Expiration Years the area. Full-time employees of the Exelon facilities in Illinois earned, on average, about $105,300 in 2012 (excluding benefits). Exelon workers re- Reactor Types Pressurized water Total Electrical Capacity (Megawatts) Source: Energy Information Administration The Impact of Exelon's Nuclear Fleet on the Illinois Economy

siding in the host counties of their respective facilities earn more than
twice the average earnings of other workers in those counties.
Safe and Clean for the Environment

Nuclear facilities generate large amounts of electricity without emitting
greenhouse gases. State and federal policymakers recognize nuclear ener-
gy as an essential source of safe, reliable electricity that meets both our
environmental needs and the state's demand for electricity.
Clinton Power Station
In 2013, the 11 reactors prevented the release of 79.8 million metric tons First date of operation of carbon dioxide,2 about the same amount released by 15 million cars each year. Overall, Illinois' electric sector emits more than 94 million tons Six miles east of Clinton of carbon dioxide annually. The 11 reactors also prevent the emission of License Expiration Year more than 74,000 tons of nitrogen oxide, equivalent to that released by nearly four million cars, and 176,000 tons of sulfur dioxide. Sulfur dioxide Reactor Type and nitrogen oxide are precursors to acid rain and urban smog. Total Electrical Capacity (Megawatts) Dresden Generating Station
First dates of operation Dresden 2 - 1970 Dresden 3 - 1971 Nine miles east of Morris License Expiration Years Dresden 2 - 2029 Dresden 3 - 2031 Reactor Types Total Electrical Capacity (Megawatts) 2 Emissions prevented are calculated using regional fossil fuel emission rates from the U.S. Environmental Protection Agency and plant generation data from the U.S. Energy Information The Impact of Exelon's Nuclear Fleet on the Illinois Economy

Section 2
Economic Impacts to Illinois

NEI used the REMI PI+ model to analyze economic and expenditure data
provided by the plants to develop estimates of their economic benefits
(more information on REMI can be found in Section 6).
The economic impacts of the Braidwood, Byron, Clinton, Dresden, LaSalle
LaSalle County Generating Station
and Quad Cities facilities as well as Exelon's headquarters consist of direct First dates of operation and secondary impacts. The main variables used to analyze these impacts LaSalle County 1 - 1982 LaSalle County 2 - 1984 60 miles southwest of Chicago The direct output is the value of power produced by the Exelon facilities. License Expiration Years The secondary output is the result of how the direct output alters subse- LaSalle County 1 - 2022 quent outputs among industries and how those employed at the facilities LaSalle County 2 - 2023 influence the demand for goods and services within the community. Reactor Types Total Electrical Capacity (Megawatts) Labor Income
LaSalle County 1 - 1,118 The direct labor income is the workers' earnings at the Exelon facilities. LaSalle County 2 - 1,120 The secondary labor income is the workers' earnings in the other industries
as a result of Exelon's facilities.
Employment
The direct employment is the number of jobs at the Exelon facilities. Sec-
ondary employment is the number of jobs in the other industries as a re-
sult of Exelon's facilities.
Gross State Product
Gross state product is the value of goods and services produced by labor
and property at the Exelon facilities—e.g., sales minus intermediate goods.
Quad Cities Generating Station
In the REMI model, electricity is the final good from a nuclear plant. Inter- First dates of operation mediate goods are the components purchased to make that electricity. Quad Cities 1 - 1972 Quad Cities 2 - 1972 20 miles northeast of Moline License Expiration Years Quad Cities 1 - 2032 Quad Cities 2 - 2032 Reactor Types Total Electrical Capacity (Megawatts) Quad Cities 1 - 908 Quad Cities 2 - 911 The Impact of Exelon's Nuclear Fleet on the Illinois Economy Substantial Economic Drivers
The direct output in 2015 of the Exelon facilities is estimated to total $5.4 bil-
lion (the value of the electricity produced at the plants and the cost to run Ex-
elon's nuclear headquarters), with a total economic output on the state of $8.9
billion. In other words, for every dollar of output, the state economy produced
$1.65. By 2030, the total economic output is estimated to increase to $11.4
billion.
In 2015, Exelon's nuclear output in Illinois is estimated to contribute $6.0 billion
to Illinois' gross state product (GSP) and, by 2030, the GSP increases to $7.8
Exelon's total economic
output on the state of
Figure 2.0 shows the value of Exelon's total output and contributions to GSP Illinois in 2015 is through
2030, using electricity price forecast data from the Energy Information estimated to be $8.9
billion and grow to an
Figure 2.0
estimated $11.4 billion
Exelon Plants' Total Output and Gross State Product
Contribution to Illinois (dollars in 2014 billions)*
Quad Cities
Braidwood
Gross State Product
Quad Cities
Braidwood
* Regional electricity price forecasts based on the Energy Information Administration's Annual Energy Outlook 2014. The Impact of Exelon's Nuclear Fleet on the Illinois Economy The eleven reactors' largest impacts are on the utilities sector. Their next great-est impact in Illinois is on the construction sector followed by the professional, scientific and technical sector, due to the volume of specialized services re-quired to operate and maintain a nuclear power plant. Other sectors that bene-fit from the plants' operations in Illinois include manufacturing, finance and in-surance, health care, retail trade, and managing companies and enterprises. A full depiction of the sectors in Illinois that benefit from the facilities is in Table 2.0 below. Table 2.0
Exelon's Estimated Total Output on Illinois' Economic Sectors in 2015
(in millions of 2014 dollars) Sector Description
Braidwood Byron Clinton Dresden LaSalle Quad Cities
Professional, Scientific, and Technical Services Real Estate and Rental Finance and Insurance Management of Compa- nies and Enterprises Health Care and Social Administrative and Waste Management Services Other Services, except Public Administration Accommodation and Transportation and Arts, Entertainment, and Educational Services 1,305 1,656
The Impact of Exelon's Nuclear Fleet on the Illinois Economy Job Diversity and Creation
Exelon's output also stimulates the state's labor income and employment. Ex-
elon's plants and nuclear headquarters in Warrenville, Illinois employ 5,900
people in permanent jobs. These jobs stimulate another 21,700 additional jobs
in other sectors in the state.
Table 2.1 details the numbers and types of jobs that Exelon is estimated to
support in 2015. Exelon's workers are included in the occupation categories in
the table. As the table shows, about 27 percent of the jobs are construction and
13 percent are utility workers. About 11 percent are professional, scientific and
technical workers and another nine percent are retail trade workers. Six percent
are workers who provide health care and social assistance and two percent of
the jobs (595) are state and local government workers (not shown separately in
the table).
Table 2.1
Exelon's Estimated Support in Direct and Secondary Jobs in Illinois in 2015
Occupation
Braidwood Byron Clinton Dresden LaSalle Quad Cities
Professional, Scientific, and Technical Services Health Care and Social Other Services, except Public Administration Administrative and Waste Management Accommodation and Finance and Insurance 5,144 2,116
4,174 2,429
The Impact of Exelon's Nuclear Fleet on the Illinois Economy Economic Stimulus Through Taxes

Exelon's nuclear headquarters and the operations of the 11 reactors resulted in
a total tax impact of $1.4 billion to the local, state and federal governments.
This includes the direct impact and secondary impacts, because plant expendi-
tures increase economic activity, leading to additional income and value crea-
tion and, therefore, to additional tax revenue from other sectors.
Exelon's impacts on the state economy are substantial. In addition to the $6.0
billion in gross state product, the company is estimated to generate nearly $300
million in taxes from the plants and their activities for Illinois and its local gov-
ernments. See Table 2.2 below.
Large Multiplier Effects
By producing affordable, reliable electricity, Exelon's nuclear operations are
hubs of economic activity for Illinois and a boost to the national economy. Ta-
ble 2.3 (next page) provides the multipliers and summarizes the total effects
from each plant and headquarters. The multipliers show that for every dollar of
output generated, the plants and headquarters stimulate between $1.58 and
$3.01 in economic output in the state.
The plants and headquarters also stimulate a tremendous quantity of jobs. For
every direct job, two to five additional jobs are created.
Table 2.2
Estimated Total Tax Impacts of Exelon's Plants in 2015
(in 2014 millions of dollars)* Facility
State and Local
Total Taxes
* Calculated based on a percentage of gross state product. The Impact of Exelon's Nuclear Fleet on the Illinois Economy Table 2.3
Exelon's Impacts on the Illinois Economy in 2015 (dollars in 2014 billions)
Facility / Description
Secondary
Multiplier
Gross State Product Gross State Product Gross State Product Gross State Product Gross State Product Gross State Product Gross State Product Gross State Product The Impact of Exelon's Nuclear Fleet on the Illinois Economy Section 3
Economic Impacts of Byron, Clinton and Quad
Cities' Retirement
One way to appreciate the value of a nuclear power plant is to examine what
happens when it is gone. When the Kewaunee facility in Wisconsin closed
prematurely in 2013, Kewaunee County lost 15 percent of its employment and
30 percent of its revenue—not to mention 556 megawatts of reliable, affordable
electricity. In California, 1,500 jobs were lost when two reactors at the San On-
ofre nuclear facility were closed. Recent analysis shows that California's carbon
dioxide emissions increased by more than 35 percent, due in large part to the
closure of the two reactors. Moreover, when San Onofre was operating, there
was virtually no difference in wholesale electricity costs between southern and
northern California. When the plant shut down in 2012, the spread between
prices in the two regions increased to approximately $7 per megawatt-hour. In
2013, the spread widened further—to about $10/MWh. It is expected to remain
Illinois' gross state
at that level for the rest of the decade. This is significant for a state that al- product shrinks by $2.5
ready pays one of the highest retail electricity rates in the country. billion in 2016 to $3.3
California will replace the lost electricity from San Onofre primarily with new billion in 2030 because of
natural gas-fired power plants, renewable resources, and imports from out of lost output that cascades
state. Customers are expected to pay billions of dollars to replace electricity across virtually all sectors.
generation at San Onofre.
As discussed in Section 2, the operations of Byron, Clinton and Quad Cities cre-
ate significant economic benefits for Illinois and beyond. These three plants are
at significant risk of premature retirement because of a perfect storm of eco-
nomic challenges - sluggish economy, historically low natural gas prices, and
the unintended consequences of current energy policies. The REMI model
measures the long-term impact to the Illinois economy if Byron, Clinton and
Quad Cities are shut down prematurely.
State Comprehensive Economic Loss

When a productive facility ceases operations, the economic loss affects local,
state and national areas for decades. Figure 3.0 on page 14 shows the value of
Byron, Clinton and Quad Cities' lost output and lost gross state product if the
plants were to shut down in 2016 (the year selected for the study).
In the first year, the lost direct output in Illinois would be $2.4 billion and the
lost secondary output would be another $1.2 billion. The losses increase each
year thereafter and reach $2.8 billion in lost direct output and another $2.2
billion in lost secondary output in Illinois by 2030. Over that period, Illinois'
gross state product shrinks by $2.5 billion in 2016 to $3.3 billion in 2030 be-
cause of lost output that cascades across virtually all sectors.
The Impact of Exelon's Nuclear Fleet on the Illinois Economy Figure 3.0
Byron, Clinton and Quad Cities' Total Lost Output and Gross State
Product in Illinois (in 2014 billions of dollars)
Gross State Product
Quad Cities
The net output losses to
Quad Cities
Illinois in 2020 from
retiring Byron, Clinton and
Quad Cities would be
$2.0 billion.
A nuclear power plant shutdown has a greater economic impact than its opera-tion. The impacts shown in this section are larger than those in Section 2 pri-marily because of the migration of workers and families away from the area in search of new jobs. A full depiction of the sectors affected by Byron, Clinton and Quad Cities' shut-down is in Table 3.0 on page 15, which shows the lost output in the fifth year (2020) when job losses peak in Illinois. The lost direct output from the three plants is estimated to be $2.6 billion and the lost secondary output is estimated to be $2.0 billion in 2020. In Illinois, the shutdowns primarily affect the utilities sector. Assuming the elec-tricity production will be replaced, the net impact losses on Illinois is approxi-mately equal to the lost secondary output figure on an annual basis. For exam-ple, in 2020 the net impact lost would be $2.0 billion in output. The Impact of Exelon's Nuclear Fleet on the Illinois Economy Table 3.0
Lost Output to Affected Sectors in Year 5 (2020) After Byron, Clinton and
Quad Cities' Closure (In 2014 millions of dollars)
Sector Description
Quad Cities
Professional, Scientific, and Technical Services Real Estate and Rental and Leasing Finance and Insurance Health Care and Social Assistance State and local government Total Lost Secondary Output
Lost Direct Output (Utilities sector) Total Lost Output
Figure 3.1 on page 16 shows the number of direct and secondary jobs lost in Illinois after Byron, Clinton and Quad Cities' retirement. The number of direct jobs lost at the plants is 2,500. While the number of direct jobs lost remains flat, the number of secondary jobs lost increases during the first five years. This is because it would take several years before the lost output from Byron, Clin-ton and Quad Cities filters completely through the local and state economies. If Byron, Clinton and
Figure 3.1 also displays the population migration out of the state that would Quad Cities shut down, occur if the facilities were to close. By 2030, about 17,000 people are estimated
by 2020, job losses to move out
of the state. Further, even though the number of job losses stabi- lizes after four years of the plants' shutdown, the number of people migrating in the state would continues to increase. It's not until 2040 (25 years after the plants retire) that
peak at 13,300.
population migration stabilizes around the plants and in Illinois. Since Byron, Clinton and Quad Cities are one of the larger employers in their host counties, it can be reasonably assumed that thousands of people also would migrate out of those counties to other parts of the state. Table 3.1 on page 16 shows the number and types of jobs that would be lost if Byron, Clinton and Quad Cities close. In Year 1 (2016), more than 9,000 jobs would be lost in Illinois, including plant employees. In Year 5 (2020), job losses in the state would peak at 13,300. The Impact of Exelon's Nuclear Fleet on the Illinois Economy Figure 3.1
Premature Shutdown-Related Job Losses in Illinois
Quad Cities
Table 3.1
Peak Direct and Secondary Jobs Lost in Year 5 (2020)
After Byron, Clinton and Quad Cities' Closure
Occupation
Quad Cities
Professional, Scientific, and Technical Services Health Care and Social Assistance Administrative and Waste Management Services Other Services, except Public Administration Accommodation and Food Services Real Estate and Rental and Leasing The Impact of Exelon's Nuclear Fleet on the Illinois Economy Section 4
Community Leadership and
Environmental Protection

In addition to the economic benefits that Exelon Nuclear contributes to Illinois
in the form of jobs, income and taxes, the company and its employees contrib-
ute to local communities in many other beneficial ways.
Exelon Nuclear has a strong tradition of community involvement that helps to
strengthen and enrich the communities where it operates. Each of Exelon's nu-
clear plants has a community outreach program designed to build trust, sup-
port, and general goodwill with plant neighbors, community leaders, and elect-
ed officials.
Exelon's Illinois nuclear plants strengthen Illinois communities through charita-
ble contributions for community organizations and initiatives, educational pro-
grams that teach and promote the benefits of nuclear energy, environmental
Exelon Nuclear has a
programs that improve the quality of the environment, and civic engagement strong tradition of activities that build trust and goodwill.
community involvement
Contributions & Sponsorships
that helps to strengthen
and enrich the Th
urpose of Exelon Nuclear's site contributions programs is to improve the quality of life in the communities it serves. Each of Exelon's Illinois nuclear sites communities where it
contributes to local causes that support community development, education, operates.
the arts, the environment, recreation, and health and safety. Exelon and its
nuclear employees contribute more than $1,800,000 to more than 400 vital
community organizations and initiatives, including the United Way.
Braidwood Generating Station's annual team bass fishing tournament,
Fishing for a Cure, raises money for a new local charity selected each year by
employees. Since 2002, the event has raised more than $365,000 for local
charities, which have included food pantries and tornado disaster relief victims
in Diamond and Coal City.
In the neighboring community of Godley, Exelon donated $11.5 million to build
a municipal water system in 2006. The donation helped the village resolve a
long-standing water quality problem caused by shallow wells in the community
that had been infiltrated by non-industrial pollutants.
Byron Generating Station donated $30,000 to the Ogle County Sheriff's De-
partment to purchase an emergency response vehicle and tactical weaponry
and gear. The county uses the vehicle to transport county law enforcement and
emergency response personnel during emergencies.
A $15,000 donation from the station allowed the Byron Public Library to con-
struct a permanent 800-square-foot energy exhibit that educates patrons about
green energy, recycling and energy conservation.
The Impact of Exelon's Nuclear Fleet on the Illinois Economy Clinton Power Station, in DeWitt County, supports military veteran organiza-
tions in its local communities, including the local American Legion Post, AMVETS
Post, VFW, and VFW Ladies Auxiliary Post, through both monetary donations
and volunteer time. Additionally, station employees raised more than $41,000
for the Wounded Warrior Project through site raffles, fundraising events and
employee donations. Clinton employees also raised nearly $28,000 to build a
new kitchen and provide new appliances for a senior center in the city of Clin-
ton.
Dresden Generating Station donated $25,000 to the Forest Preserve District
of Will County in 2008 to furnish a state-of-the-art classroom at the Four Rivers
Environmental Education Center.
The station also helped provide a safe place to play for children at the South
Wilmington Elementary School with a contribution of $15,000 for the school to
replace 50-year-old playground equipment.
LaSalle County Generating Station is a signature sponsor of the United
Way of Eastern LaSalle County's Labor of Love and has donated $135,000 to
the event since 2003. Labor of Love is a one-day home improvement blitz. Each
year, more than one hundred Exelon volunteers use donated materials to paint,
clean and repair the homes of elderly, disabled and low-income homeowners.
To date, Exelon has renovated 57 homes.
In the City of Streator, LaSalle Station partnered with the Streator Substance
Abuse Coalition and donated $7,000 to purchase a drug dog for the police de-
partment. The canine is trained to identify all types of drugs, assist in traffic
stops and conduct searches in schools. The Streator Police Department is one
of the only police departments in the area with a trained drug dog.
Quad Cities Generating Station is a major sponsor of the Fulton Community
Holiday Dinner, donating funds to purchase the ingredients to make the meals.
Each year, community volunteers serve and deliver more than 500 meals to
people in need in the area.
Quad Cities Station has been the major sponsor of four local library summer
reading programs in Cordova, Erie, Hillsdale and Port Byron, contributing
$50,000 to the program in total over the past decade. More than 500 children
participate annually in the local reading programs.
Exelon Nuclear employees take pride in being an integral part of the communi-
ties they serve. Exelon makes it easy for employees to volunteer in both com-
pany-sponsored and personal volunteer service activities by allowing employees
to volunteer on company time. The company also recognizes employees who
volunteer by awarding grants to an organization of their choice based on the
number of hours the employee has volunteered. In 2013, Exelon Nuclear em-
ployees logged 5,194 volunteer hours.
The Impact of Exelon's Nuclear Fleet on the Illinois Economy Pursuit of Education

Exelon Nuclear's educational program takes nuclear's message of safe, clean,
and reliable operations on the road to a broad audience of school children,
teachers, civic organizations, and the general public.
For example, the company's Gabby Green program reaches more than 11,000
school-age children and teachers in Illinois each year, teaching them about
electricity, conservation and green energy sources – such as solar, wind, hydro
and nuclear power.
Similarly, the Nuclear 101 program gives hundreds of teachers an opportunity
to learn about nuclear energy and provides them with materials they can use in
their classrooms to educate their students.
To further foster students' interest in education, Exelon's Illinois plants award
more than $15,000 in scholarships each year to high school students in sur-
rounding communities who plan to pursue a science, technology, engineering
Exelon Nuclear's or math
educational program
In the broader community, the plants hold open house-style community infor- takes nuclear's message
mation events at their sites for the general public. These events give the gen-eral of safe, clean, and reliable
public a close look at the plant and provide them with detailed information on specific issues like plant safety, security, taxes, and dry cask storage. operations on the road to
a broad audience of
Environmental Stewardship

school children, teachers,
Behind Exelon Nuclear's commitment to continuously improve its environmental civic organizations, and
performance is the environmental management system (EMS). This is a set of processes and practices focused on reducing environmental impacts, complying the general public.
with environmental laws and regulations, and providing a greener and healthier environment. Exelon Nuclear's EMS is based on the international standard, ISO 14001, which lets customers know they can trust that the company is actively minimizing the environmental impacts of its processes, products, and services. All Exelon Nuclear facilities have ISO 14001 certifications. Exelon Illinois nuclear plants go above and beyond federal and state environ-mental compliance commitments to enhance and protect the environment with programs that have improved water quality and the health of habitats for fish, birds and other wildlife.  Since 2007, Braidwood Station has teamed with the Illinois Department of Natural Resources (IDNR) and three local bass clubs (American Bass An-glers, Bass PAC and NBAA) to purchase and deploy artificial habitats at Braidwood Lake. This effort combined with the IDNR annual restocking of 60,000 four-inch fingerling largemouth bass has enhanced the Braidwood Lake fishery. The habitat units are designed to provide multiple benefits to largemouth bass at various stages in their life – from acting as a nursery habitat for young fish to providing feeding sites for larger, older bass. To The Impact of Exelon's Nuclear Fleet on the Illinois Economy date, 675 habitat units have been deployed at a cost of $40,000.  Byron Station donated $43,000 to help Hoo Haven build an aquatic wing at its rehabilitation center, which supports the rescue and rehabilitation of birds, ground, and aquatic animals. The donation also allowed the center to purchase a van equipped to transport injured animals. At the site, employ-ees on the environmental stewardship team installed nest boxes for blue-birds, wood ducks and owls to provide a habitat for local birds that were in need of nesting areas.  Clinton Lake, not only serves as a cooling source for Clinton Power Station, but also as a recreation area for fishing, boating, swimming, and other wa-ter-related activities. The station spends $12,000 each year to restock the lake with bass and crappie. Working with the IDNR in 2008, the station rebuilt a fish pond near the lake where fish can grow over the summer be-fore being released into Clinton Lake in the fall. The project, which cost more than $20,000, helps ensure Clinton Lake has a healthy fish popula-tion. In 2013, the station stocked the lake with 50,000 bass/walleye and 134,000 crappies.  Employees at Dresden Station have worked with the IDNR to build and install more than 60 artificial nesting areas for osprey and purple martins on the site property. These birds have been absent from the area since the 1970s.  LaSalle Lake, which acts as a cooling lake for LaSalle County Generating Station, supports a diverse fish population, provides vital habitat for birds, and serves as a recreation area for fishing and boating. The station's on-site fish hatchery raises and stocks the lake with a variety of warm and cool water fish species, including largemouth and smallmouth bass, blue catfish, striped bass, bluegill and red sunfish.  Like Dresden Station, LaSalle also built artificial nesting areas for osprey, which use the lake for feeding. Migratory birds such as white pelicans, great blue herons, and other species also use the lake for feeding and as a stopover habitat.  Quad Cities Station is home to the only private fish hatchery on the Missis- sippi River, which it operates in partnership with Southern Illinois Universi-ty. The facility had raised and stocked the Mississippi River and other local water bodies with more than 7 million fingerling walleye, 600,000 fingerling hybrid striped bass, and nearly 75,000 yearling hybrid striped bass since the hatchery began operation. All six Illinois sites have been recognized with Wildlife Habitat Council's Wildlife at Work certifications, and Clinton Station has an additional Corporate Lands for Learning certification. The Impact of Exelon's Nuclear Fleet on the Illinois Economy Section 5
Exelon and the U.S. Nuclear Energy Industry
Exelon's nuclear power plants play a vital role in helping Illinois meet its de-
mand for affordable, reliable and sustainable energy.
In 2013, electricity production from U.S. nuclear power plants was about 790
billion kilowatt-hours—nearly 20 percent of America's electricity supply. In Illi-
nois, the 11 reactors generated approximately 48 percent of the state's electric-
ity.
Over the past 20 years, America's nuclear power plants have increased output
and improved performance significantly. Since 1990, the industry has increased
total output equivalent to that of 26 large power plants, when in fact only five
new reactors have come on line.
U.S. nuclear power plants achieved an industry-leading performance capacity
Based on more than 50
factor of 91 percent in 2013, while producing electricity at one of the lowest years of experience, the
costs of any fuel source used to generate electricity. nuclear industry is one of

The Value of Nuclear Energy
the safest industrial
working environments in
Nuclear energy's role in the nation's electricity portfolio was especially valuable during the 2014 winter, when record-cold temperatures gripped the United the nation.
States and other sources of electricity were forced off the grid. Nuclear power plants nationwide operated at an average capacity factor of 96 percent during a period of extremely cold temperatures. During that time, supply volatility drove natural gas prices in many markets to record highs and much of that gas was diverted from use in the electric sector so that it could be used for home heat-ing. Some of America's electricity markets, however, are structured in ways that place some nuclear energy facilities at risk of premature retirement, despite excellent operations. It is imperative that policymakers and markets appropri-ately recognize the full strategic value of nuclear energy to a diverse energy portfolio. The value starts with the safe and reliable production of large quantities of electricity around the clock. Renewable energy, while an emerging part of the energy mix, is intermittent (the sun doesn't always shine and the wind doesn't always blow when genera-tion is needed) and therefore unreliable; natural gas-fired generation depends on fuel being available (both physically and at a reasonable price); and on-site coal piles can freeze. One of nuclear energy's key benefits is the availability of low-cost fuel and the ability to produce electricity under virtually all weather conditions. Nuclear power plants also provide clean-air compliance value. In The Impact of Exelon's Nuclear Fleet on the Illinois Economy any emissions trading system, nuclear energy reduces the compliance burden
that would otherwise fall on carbon-emitting generating capacity.
Nuclear plants provide voltage support to the grid, helping to maintain grid sta-
bility. They have portfolio value, contributing to fuel and technology diversity.
And they provide tremendous local and regional economic development oppor-
tunities, including large numbers of high-paying jobs and significant contribu-
tions to the local and state tax base.
Affordable Energy for Consumers

In addition to increasing electricity production at existing nuclear energy facili-
ties, power from these facilities is affordable for consumers. Compared to the
cost of electricity produced using fossil fuels—which is heavily dependent on
fuel prices—nuclear plant fuel prices are relatively stable, making costs to con-
sumers more predictable. Uranium fuel is only about one-third of the produc-
tion cost of nuclear energy, while fuel costs make up 78 percent to 88 percent
of coal-fired and natural gas production costs.
Emphasis on Safety

Safety is the highest priority for the nuclear energy industry. Based on more
than 50 years of experience, the industry provides one of the safest industrial
working environments in the nation. Through rigorous training of plant workers
and frequent communication and cooperation among nuclear plants and feder-
al, state and local regulators, the industry is keeping the nation's 100 nuclear
plants safe for their communities and the environment.
The U.S. Nuclear Regulatory Commission (NRC) provides independent federal
oversight of the industry and tracks data on the number of "significant events"
at each nuclear plant. (A significant event is any occurrence that challenges a
plant's safety system.) The average number of significant events per reactor
declined from 0.45 per year in 1990 to 0.06 in 2012, illustrating the emphasis
on safety throughout the nuclear industry.
General worker safety is also excellent at nuclear power plants—far safer than
in the manufacturing sector. U.S. Bureau of Labor Statistics data show that, in
2012, nuclear energy facilities achieved an incidence rate of 0.4 per 200,000
work hours, compared to 2.8 for fossil-fuel power plants, 3.1 for electric utilities
and 3.9 for the manufacturing industry.
Industry Trends: License Renewal and New Plants

The excellent economic and safety performance of U.S. nuclear power plants
has demonstrated the value of nuclear energy to the electric industry, the fi-
nancial community and policymakers. This is evidenced by the number of facili-
ties seeking license renewals from the NRC.
The Impact of Exelon's Nuclear Fleet on the Illinois Economy Originally licensed to operate for 40 years, nuclear energy facilities can operate safely for longer. The NRC granted the first 20-year license renewal to the Cal-vert Cliffs plant in Maryland in 2000. As of September 2014, 73 reactors had received license extensions, and operators of 30 additional reactors either had submitted applications or announced that they will seek renewal. License re-newal is an attractive alternative to building new electric capacity because of nuclear energy's low production costs and the return on investment provided by extending a plant's operational life. Besides relicensing nuclear plants, energy companies also are building new, advanced-design reactors. Georgia Power and South Carolina Electric & Gas are building two advanced reactors each, near Augusta, Ga., and Columbia, S.C. These facilities are halfway through the construction program and will employ more than 5,000 workers each during the peak of construction. In addition, Tennessee Valley Authority is completing construction of the Watts Bar 2 reac-tor in Tennessee. The Impact of Exelon's Nuclear Fleet on the Illinois Economy Section 6
Economic Impact Analysis Methodology
This analysis uses the REMI model to estimate the economic and fiscal impacts
of the Exelon Illinois nuclear power plants.
Regional Economic Models, Inc. (REMI)

REMI is a modeling firm specializing in services related to economic impacts
and policy analysis, headquartered in Amherst, Mass. It provides software, sup-
port services, and issue-based expertise and consulting in almost every state,
the District of Columbia, and other countries in North America, Europe, Latin
America, the Middle East and Asia.
The REMI model has two main purposes: forecasting and analysis of alterna-
tives. All models have a "baseline" forecast of the future of a regional economy
at the county level. Using "policy variables," in REMI terminology, provides sce-
narios based on different situations. The ability to model policy variables makes
it a powerful tool for conveying the economic "story" behind policy. The model
translates various considerations into understandable concepts like GDP and
jobs.
REMI relies on data from public sources, including the Bureau of Economic
Analysis, Bureau of Labor Statistics, Energy Information Administration and the
Census Bureau. Forecasts for future macroeconomic conditions in REMI come
from a combination of resources, including the Research Seminar in Quantita-
tive Economics at the University of Michigan and the Bureau of Labor Statistics.
These sources serve as the main framework for the software model needed to
perform simulations.
Policy Insight Plus (PI+)

REMI's PI+ is a computerized, multiregional, dynamic model of the states or
other sub-national units of the United States economy. PI+ relies on four quan-
titative methodologies to guide its approach to economic modeling:
1. Input/output tabulation (IO)—IO models, sometimes called "social account- ing matrices" (SAM), quantify the interrelation of industries and households in a computational sense. It models the flow of goods between firms in supply-chains, wages paid to households, and final consumption by house-holds, government and the international market. These channels create the "multiplier" effect of $1 going farther than when accounting for its echoing. 2. Computable general equilibrium (CGE)—CGE modeling adds market con- cepts to the IO structure. This includes how those structures evolve over time and how they respond to alternative policies. CGE incorporates con-cepts on markets for labor, housing, consumer goods, imports and the im-portance of competitiveness to fostering economic growth over time. The Impact of Exelon's Nuclear Fleet on the Illinois Economy Changing one of these will influence the others—for instance, a new knife factory would improve the labor market and then bring it to a head by in-creasing migration into the area, driving housing and rent prices higher, and inducing the market to create a new subdivision to return to "market clearing" conditions. 3. Econometrics—REMI uses statistical parameters and historical data to pop- ulate the numbers inside the IO and CGE portions. The estimation of the different parameters, elasticity terms and figures gives the strength of vari-ous responses. It also gives the "time-lags" from the beginning of a policy to the point where markets have had a chance to clear. 4. New economic geography—Economic geography provides REMI a sense of economies of scale and agglomeration. This is the quantification of the strength of clusters in an area and their influence on productivity. One ex-ample would include the technology and research industries in Seattle. The labor in the area specializes to serve firms like Amazon and Microsoft and, thus, their long-term productivity grows more quickly than that of smaller regions with no proclivity towards software development (such as Helena, Mont.). The same is true on the manufacturing side with physical inputs, such as with the supply-chain for Boeing and Paccar in Washington in the production of transportation equipment. Final assembly will have a close relationship and a high degree of proximity to its suppliers of parts, repairs, transportation and other professional services, which show up in clusters in the state. The Impact of Exelon's Nuclear Fleet on the Illinois Economy Figure 6.0
This diagram represents the structure and linkages of the regional economy in PI+. Each rectangle is a discrete, quantifiable concept or rate, and each arrow represents an equation linking the two of them. Some are complex econometric relationships, such as the one for migrant, while some are rather simple, such as the one for labor force, which is the population times the participation rate. The change of one relationship causes a change throughout the rest of the structure because different parts move and react to incentives at different points. At the top, Block 1 represents the macroeconomic whole of a region with final demand and final production concepts behind GDP, such as consumption, investments, net exports and government spending. Block 2 forms the "business perspective": An amount of sales orders arrive from Block 1, and firms maximize profits by minimizing costs when making optimal decisions about hiring (labor) and investment (capital). Block 3 is a ful demographic model. It has births and deaths, migration within the United States to labor market conditions, and international immigration. It interacts with Block 1 through consumer and government spending levels and Block 4 through labor supply. Block 4 is the CGE portion of the model, where markets for housing, consumer goods, labor and business inputs interact. Block 5 is a quantification of competitiveness. It is literally regional purchase coefficients (RPCs) in modeling and proportional terms, which show the ability of a region to keep imports away while export-ing its goods to other places and nations. The Impact of Exelon's Nuclear Fleet on the Illinois Economy Conclusion
In 2015, the total economic impact (direct and secondary) to Illinois from Ex-
elon's eleven reactors is estimated to be $8.9 billion in output and nearly
28,000 jobs. The plants' economic benefits—on taxes and through wages and
purchases of supplies and services—are considerable. In addition, plant em-
ployees stimulate the local economies by purchasing goods and services from
businesses in the area, supporting many small businesses throughout the re-
gion.
The facilities generated nearly 100 billion kilowatt-hours of carbon-free electrici-
ty in 2013, enough to serve the yearly needs for more than seven million peo-
ple year-round, or 10.5 million households if all of the electricity went to the
residential sector. This low-cost, reliable electricity helped keep retail electricity
prices in Illinois 20 percent lower than the U.S. average.
In addition to quantifying the positive economic impacts of the Exelon Illinois
fleet, this analysis showed that the Byron, Clinton and Quad Cities plants are
integral to the local and state economies. The loss of the three nuclear power
plants has lasting, negative economic ramifications. Losses would reverberate
for decades after the plants shut down, and host communities may never fully
recover.
Exelon's nuclear power stations in Illinois are leaders economically, fiscally, en-
vironmentally and socially within the state and have far-reaching, positive eco-
nomic impacts across the United States.
The Impact of Exelon's Nuclear Fleet on the Illinois Economy

Source: http://www.power-eng.com/content/dam/pe/online-articles/2014/10/ExelonIllinoisEconomicBenefitsOctober2014.pdf