NJ regulators approve 2nd round of nuclear energy subsidies sfgate.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from sfgate.com Daily Mail and Mail on Sunday newspapers.
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What ratepayers will pay in subsidies for NJ’s nuclear power plants Source: By Tom Johnson, NJ Spotlight • Posted: Monday, April 26, 2021
PSEG pushing state regulators to move forward on a yearly subsidy of about $300 million
Credit: peretzp via Creative Commons CC BY-SA 2.0. File photo: Hope Creek nuclear plant
The state is poised once again to decide whether to subsidize New Jersey’s three remaining nuclear power plants, but unlike two years ago, the question is not so much about whether ratepayers should fund the program, but how much they should pay.
Public Service Enterprise Group, the operator of the three plants in South Jersey, is urging state regulators to approve another yearly subsidy at the same level of roughly $300 million, awarded in April 2019. This time, however, the New Jersey Board of Public Utilities can reduce the level of subsidy, an option not available previously to the annoyance of a couple of
New Jersey utility board extends ZEC subsidies for PSEG nuclear plants spglobal.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from spglobal.com Daily Mail and Mail on Sunday newspapers.
N.J. nuclear plants may get $300M bailout renewed. If they do, you’ll keep footing the bill.
The Board of Public Utilities will decide Tuesday if it will continue to award hundreds of millions in subsidies to PSE&G, the operator of New Jersey’s three nuclear power plants.
And if it does, you’ll see the money come out of your pocket even if you’re not a PSE&G customer.
The question before the board is whether or not the power company needs the money as nuclear plants become increasingly less profitable. Critics and consumer advocates say the company should take the financial hit itself, but PSE&G insists the plants present a situation so dire it will be forced to shutter them without assistance.
$300M bailout for N.J. nuke plants extended, which keeps increase to your bills
Updated 3:47 PM;
Today 1:06 PM
This file photo shows the Hope Creek cooling tower, owned by PSE&G and Exelon in Alloways Creek Township on, Thursday, June 19, 2014. The state Board of Public Utilities decided Tuesday to continue $300 million annual subsidies to the plants. (Staff Photo by Joe Warner | For the Star-Ledger)
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New Jersey energy customers can expect an increase on their electric bills to stick around after the state Board of Public Utilities on Tuesday approved a second round of subsidies for three aging nuclear power plants.