Asbury Park Press
New Jersey electric consumers will continue a bail out of the state's nuclear fleet, a decision regulators said will keep the plants open and avoid dirtying energy generation in the Garden State.
Public Service Enterprise Group, the majority owner of the Salem and Hope Creek Nuclear Generating Stations in Lower Alloways Creek, Salem County, had threatened to shutter the plants should the New Jersey Board of Public Utilities fail to grant $300 million in yearly subsidies to PSEG and its partner Exelon Corp.
The round of funding was first approved in 2019, amounting to a charge of about $30 to $40 a year on residential electric bills depending on how much electricity they use. The subsidies unanimously approved on Tuesday continue the payments for another three years.