Constellation has officially struck a 20-year power purchase agreement (PPA) with Meta, an agreement which stipulates the output of Clinton Clean Energy Center to support Meta’s clean energy goals and operations with 1,121 megawatts of emissions-free nuclear energy.
Under the provided terms, beginning from June of 2027, this deal will facilitate relicensing and continued operations of Constellation’s high-performing Clinton nuclear facility for another two decades after the state’s ratepayer funded zero emission credit (ZEC) program expires.
More on that would reveal how the deal will expand Clinton’s clean energy output by 30 megawatts through plant updates, preserve a staggering 1,100 high-paying local jobs, deliver $13.5 million in annual tax revenue, as well as add $1 million in charitable giving to local nonprofits over five years.
“Constellation’s announced plan to restart the Crane Clean Energy Center became national news, but despite all of the interest and overwhelming support, a key question was missed: why did we let such a valuable plant close in the first place? We all know that the closure cost our community,” said Joe Dominguez, president and CEO of Constellation. “We are proud to partner with Meta because they asked that important question, and even better, they figured out that supporting the relicensing and expansion of existing plants is just as impactful as finding new sources of energy.”
To give you some context, the Clinton Clean Energy Center was originally prepared for premature closure in 2017 after years of financial losses, despite being one of the best performing nuclear plants in Illinois. Having said so, Clinton’s retirement was prevented by enactment of the Future Energy Jobs Act which, in case you weren’t aware, established a Zero Emission Credit program, designed to conceive financial support for the plant through mid-2027.
In that respect, Constellation’s agreement with Meta happens to be a market-based solution geared towards replacing the ZEC program and ensuring long-term operations of the plant without ratepayer support. You see, this PPA will make it possible for Clinton Clean Energy Center to continue flowing power onto the local grid. The idea here is to achieve grid reliability and low-cost power across the region for decades to come.
The deal will further let Constellation add more new, clean, reliable energy to the grid across Midcontinent Independent System Operator’s (MISO) zone four territory, covering central and southern Illinois.
With the guarantee that Clinton will continue to run for another two decades, Constellation is also actively evaluating strategies to extend the plant’s existing early site permit or seek a new construction permit from the Nuclear Regulatory Commission This it will do to pursue development of an advanced nuclear reactor or small modular reactor (SMR) at the Clinton Clean Energy Center site.
“The Clinton Clean Energy Center has been a vital source of affordable, reliable energy for central Illinois since 1987. Extending the plant’s operating license will preserve over 1,000 high-paying jobs for the next 20 years, providing long-term economic security and growth. This agreement is a major win for Clinton and for our entire region.” said Rep. Mary Miller (R-IL), U.S. Representative for Illinois’s 15th Congressional District.
Making this development even more significant would be Clinton Clean Energy Center’s economic and environmental impact. We get to say so because the center directly employs over 530 people, contributes approximately $13.5 million in annual taxes, and generates enough carbon-free electricity to power over 800,000 homes.
In fact, one analysis conducted by The Brattle Group found that shuttering Clinton would raise emissions by more than 34 million metric tons of carbon over 20 years, the equivalent to putting approximately 7.4 million gasoline-powered cars on the road for a year. The same report also discovered that Illinois’ GDP would drop by $765 million annually, thus impacting businesses and jobs across multiple industries.
“Constellation’s Clinton nuclear plant has long been an important part of our local economy, supporting a vibrant community with great jobs, excellent schools and well-resourced fire and police departments. While many other communities are losing jobs and tax revenues, Meta is investing in our future, preserving good-paying jobs, and driving economic development for decades to come,” said Helen Michelassi, Mayor, Clinton.
