ILLINOIS NUKE BRIBERY CHARGES: Scandal threatens Illinois House Speaker

On November 18, Anne Pramaggiore, former CEO of Commonwealth Edison (a major subsidiary of Exelon Nuclear) and three others, including Michael McClain, a confidant of Illinois House Speaker Michael J. Madigan, were charged with bribery in a ComEd lobbying scheme. In recent years, ComEd has secured massive rate hikes, and Exelon a $2.35 billion bailout at ratepayer expense, with the help of Madigan, who has served as IL House Speaker since the early 1980s, longer than any counterpart in the country. The scandal threatens to oust Madigan from the Speakership. There are reports of dark money in current Illinois energy legislation lobbying, as Exelon seeks even more billion dollar bailouts for its dangerously old reactor fleet.

MORE.

Recent news coverage re: alleged bribery potentially associated with rate hikes and bailouts in IL

(1.) " ‘Dark money’ group raises fears in Illinois energy negotiations," Nov. 24, by Kari Lydersen, Midwest Energy News;

(2.) "Indictment raises questions on what ComEd CEO Dominguez knew and did," Nov. 19, by Steve Daniels, Crain's Chicago Business;

(3.) "Survival odds now tilt against Madigan," Nov. 19, by Greg Hinz, Crain's Chicago Business;

(4.) Editorial: "What the ComEd scandal means, and what it costs," Nov. 19, Chicago Tribune;

(5.) "More House Democrats drop support for Madigan, putting his decades-long hold on speaker’s post in peril," Nov. 19, reported by the Chicago Tribune;

(6.) "Madigan speaks out on indictment of key confidant and allies as defense lawyers in bribery case blame overzealous prosecutors," Nov. 19, reported by the Chicago Tribune;

(7.) "Madigan denies wrongdoing in wake of latest indictments," Nov. 19, by A.D. Quig, Crain's Chicago Business;

(8.) "Ex-ComEd CEO, 3 others indicted," Nov. 18, reported by Crain's Chicago Business;

(9.) "Madigan confidant and ex-ComEd CEO charged with bribery in lobbying scheme," Nov. 18, reported by the Chicago Sun Times.

‘Dark money’ group raises fears in Illinois energy negotiations

As reported by Kari Lydersen at Midwest Energy News.

The dark money-tainted IL energy negotiations, involving Exelon Nuclear and the state legislature, are not unlike dark money-tainted OH energy negotiations, involving FirstEnergy Nuclear and the state legislature.

Back in 2016, Exelon already secured approval for $2.35 billion in dangerously old reactor bailouts from IL ratepayers, compliments of a compliant IL state legislature.

In 2019, FirstEnergy secured approval for $1.3 billion in dangerously old atomic reactor/dirty old coal burner bailouts from OH ratepayers, compliments of a compliant OH state legislature.

In both states, federal charges have been brought against multiple conspirators -- including the OH State House Speaker -- re: alleged bribery intertwined with the bailouts. The scandal in IL may take down the State House Speaker there, who has served since the early to mid-1980s, the longest such tenure in the U.S.

FirstEnergy cut to junk at all three major ratings firms

As reported by Seeking Alpha.

The Other Race on Georgia’s January Ballot

The runoff for Georgia’s Public Service Commission is a referendum on the powerful energy company Georgia Power.

As reported by Rachel M. Cohen in The Intercept.

The article touches on the federal taxpayer-backed nuclear loan guarantees wrapped up in the years behind schedule, billions of dollars over budget Vogtle 3 & 4 reactor new build project in GA.

In 2014, Obama administration Energy Secretary Ernest Moniz -- reportedly still in the running to becomes Biden's Energy Secretary -- awarded Southern Nuclear et al. $8.3 billion in nuclear loan guarantees for Vogtle 3 & 4. In return, he was awarded a seat on Southern's board of directors.

Trump administration Energy Secretary Rick Perry, out of the blue, awarded Southern another $3.7 billion in nuclear loan guarantees. Former Perry presidential campaign manager, Jeff Lewis, helped make this happen, as a hired gun lobbyist for Southern.

If Southern and its partners default on their loan repayments, American taxpayers could well be left holding the bag for $12 billion in nuclear loan guarantees. That is 22 times the amount of taxpayer money lost in the Solyndra solar loan guarantee default, a decade ago ($535 million).