Exelon CEO Warns Of Risks In Push To Reshape Energy Policy
WASHINGTON -(Dow Jones)- Exelon Corp. (EXC) Chief Executive John Rowe warned that government efforts to wean the U.S. economy from carbon-based energy could wind up wasting money and creating a political backlash if plans aren’t fully thought through.
…As for Exelon, the company has applied for loan guarantees first established by law several years ago to build more nuclear power, but Rowe said he doesn’t anticipate that the U.S. Energy Department will award such guarantees to Exelon initially. Energy Secretary Steven Chu has talked about speeding up the award of loan guarantees, a process that was bogged down in the Bush administration.
“I think it’s more likely that they would be sped up for the companies whose designs are a bit further along than ours,” Rowe said…
