Exelon ups its bid for NRG to $8B in ...

Exelon ups its bid for NRG to $8B in stock

There are 8 comments on the Chicago Tribune story from Jul 2, 2009, titled Exelon ups its bid for NRG to $8B in stock. In it, Chicago Tribune reports that:

Exelon Corp. on Thursday sweetened its hostile takeover bid for rival power generator NRG Energy Inc.

Join the discussion below, or Read more at Chicago Tribune.

Annoyed

Lisle, IL

#1 Jul 2, 2009
And, of course, ComEd (an Exelon company) will be asking the ICC for a rate increase to pay for the hostile takeover of NRG. Iliinois will, as usual, rubber stamp the request and the consumers of ComEd will get zapped once again.
deachgo

Berwyn, IL

#2 Jul 2, 2009
Exelon Corp. on Thursday sweetened its hostile takeover bid for NRG Energy Inc. by 12 percent to $8 billion in stock...

...and ComEd(y) would have to file bankruptcy if they did not get a rate increase!
Hmm

Chicago, IL

#3 Jul 2, 2009
Do we really need a bigger utility company? They already screw us on rates and service, if they get more control they will be able to bribe their way to umlimited profits.
Broke American

Lisle, IL

#4 Jul 2, 2009
Consolidation of a public utilities is always bad for the consumer. Hopefully the FTC would block any merger.
RAK

Lombard, IL

#5 Jul 2, 2009
Yes, further consolidation will mean that Illinois consumers will have fewer choices when it comes to electricity suppliers........oh that's right, we don't have a choice, nevermind.
jjrr

Lombard, IL

#6 Jul 3, 2009
It is quite apparent many do not know how the electric utilities in Illinois are governed or operate. ComEd and Ameren do the distribution of energy and are highly regulated. The State of Illinois runs an electricity auction that sets the energy prices consumers pay who have not opted for an alternate energy supplier. What is playing a big hand in our utility rates is the policies of the federal government and what is happening in Congress and the White House now. The Cap and Trade bill will penalize the carbon emitting producers and encourage wind and solar power. Remember the heat wave in Chicago a week ago? The lack of wind is a reason it is hot. Wind and solar will never be able to supply enough electricity on demand to run air conditioners and pool pumps. Wind and solar are too inconsistent of a power source. The future energy needs of this country depends on a reliable mix of energy, even if it produces carbon that requires new technology to clean it up (don't pump it into the ground like some existing plans) or leaves behind radioactive waste that has been proven to be a manageable waste product. Just wait until "SmartGrid" is pushed by the government. What will be smart is how more revenue streams are found to take our hard earned money.
Lawrence Fine

Hobart, IN

#7 Jul 3, 2009
Fix your rotten transmission system first.
Old Wally Gatorade

United States

#8 Jul 3, 2009
jjrr wrote:
It is quite apparent many do not know how the electric utilities in Illinois are governed or operate. ComEd and Ameren do the distribution of energy and are highly regulated. The State of Illinois runs an electricity auction that sets the energy prices consumers pay who have not opted for an alternate energy supplier. What is playing a big hand in our utility rates is the policies of the federal government and what is happening in Congress and the White House now. The Cap and Trade bill will penalize the carbon emitting producers and encourage wind and solar power. Remember the heat wave in Chicago a week ago? The lack of wind is a reason it is hot. Wind and solar will never be able to supply enough electricity on demand to run air conditioners and pool pumps. Wind and solar are too inconsistent of a power source. The future energy needs of this country depends on a reliable mix of energy, even if it produces carbon that requires new technology to clean it up (don't pump it into the ground like some existing plans) or leaves behind radioactive waste that has been proven to be a manageable waste product. Just wait until "SmartGrid" is pushed by the government. What will be smart is how more revenue streams are found to take our hard earned money.
Hmm, I thought Exelon generated and distributed electricity; and their 2008 profit was $2B (on $20B revenue with $5B salary expense). I wonder why they were worried about bankruptcy? It's also odd that corporate and private investment in wind and solar is growing then.

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