Crane

Exelon announced that Chris Crane, the company’s former chief executive, passed away on Saturday in Chicago at the age of 65.

Crane served as the company’s president and CEO from 2012 until his retirement in December 2022. During his tenure, he steered the energy company through several transformational milestones, including the successful mergers with Constellation Energy in 2012 and Pepco Holdings in 2016, creating the largest utility business by customer count in the United States.

In 2022, with the spin-off of Constellation as the generation and retail side of energy business (with the largest U.S. nuclear fleet), Crane led the creation of a stand-alone transmission and delivery energy company.

Crane

Exelon, owner and operator of the nation’s largest nuclear reactor fleet, has made clear its position on the massive infrastructure and social spending bills that federal lawmakers, at this writing, continue to haggle over.

“As world leaders convene in Glasgow for COP26 to address the climate crisis, the need for America to take action has never been more urgent,” said Chris Crane, Exelon’s president and chief executive officer, on Monday. “The bipartisan infrastructure agreement and the policy framework for Build Back Better legislation will make us more competitive globally, spur innovation and support good-paying jobs, protect current and future generations from the worst impacts of climate change, and cement America’s leadership on one of the most pressing challenges—and opportunities—of our time. The time to act is now, and we encourage lawmakers to pass these critical policies into law.”

A $6 billion lifeline for struggling U.S. nuclear power plants is reportedly included in the nearly $1 trillion bipartisan infrastructure bill currently being mulled over in the U.S. Senate, but it won’t be thrown in time to rescue Illinois’s Byron and Dresden plants, according to owner and operator Exelon.

In an August 4 statement on second-quarter earnings, Exelon’s president and chief executive officer, Chris Crane, noted that while his company is encouraged by the growth of federal support for policies that acknowledge the value of nuclear’s clean energy generation, “passage of legislation remains uncertain and, regardless, will come too late to save our Byron and Dresden plants from early retirement this fall. While we remain hopeful that a state solution will pass in time to save the plants, clean energy legislation in Illinois remains caught in negotiations over unrelated policy matters, leaving us no choice but to continue down the path of closing the plants.” (Last August, Exelon announced its intention to prematurely retire Byron and Dresden, citing long­standing economic pressures. Last week, the company filed decommissioning plans for the two nuclear facilities.)

Illinois governor J. B. Pritzker’s proposal to subsidize the state’s Byron and Dresden nuclear plants, introduced in legislative form last week, falls short, Exelon Corporation President and Chief Executive Officer Chris Crane said on May 5 during the company’s first-quarter earnings call.

“From what we’ve heard, it’s open to negotiation, but just going from the street analyst opinion and what we’ve seen, its starting point is not adequate to keep the plants’ continued operations going,” Crane stated.

Although a much-discussed October 12 story from Bloomberg headlined “Exelon Weighs Shedding Nuclear Plants, Other Non-Utility Assets” went unconfirmed, a new report from Greentech Media says that confirmation has now taken place.