(CBS) – Gov. Rauner says he’s not happy with the deal lawmakers passed to allow Exelon to raise electricity rates, but contends it was better than earlier proposals.

The Republican pointed out at an Illinois Manufacturers Association luncheon that governments subsidize energy at both the state and federal level.

The business group that frequently agrees with the governor opposed the bill because of the estimated $235 million a year in rate hikes that are expected.

While Rauner says he’s philosophically opposed to special deals, he says this one saves an estimated 1,500 jobs in central and western Illinois by keeping two nuclear power plants open.

ComEd’s parent company also promised to invest in energy efficiency as part of the deal.

Rauner says he was hearing opposite theories from experts about what closing the plants would do to the cost of energy in Illinois.