- Feb 26, 2021 3:19 am GMT
Texas continues to make headlines. The real story here, of course, is Exelon's split between its regulated utilities and nonregulated generation infrastructure. Having uneconomic generation assets, such as fossil fuel plants, on its balance sheet doesn't make sense when energy policy is headed towards renewables. Other utilities are also trying to get rid of their fossil fuel generation infrastructure. For example, Dominion Energy sold off its natural gas fleet to Warren Buffett's Berkshire Hathaway. Exelon is locked in a battle with Illinois over nuclear subsidies and had threatened to close four of its nuclear plants this year. The spin-off means that they will live on as a separate entity called SpinCo traded in public markets. Nuclear comprises 61% of Exelon's energy mix, according to data from its website and SpinCo will become America's biggest producer of carbon-free electricity, accounting for 12% of the overall figure.
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