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NJ nuclear-power subsidy gets OK for three more years

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.

Despite state officials worries, NJ approves bailout for PSEG nuclear plants

April 27, 2021 1:44 pm The New Jersey Board of Public Utilities approved PSEG’s bid for a second round of $300 million in annual subsidies, which it argued is vital to keep its nuclear plants open, in spite of personal reservations and skepticism from several of the state’s commissioners. Under the resolutions approved by the NJBPU on April 27, PSEG’s three nuclear plants – Hope Creek, and Salem 1 and 2 – will get a combined $300 million in annual subsidies over three years, totaling $900 million. PSEG and Exelon, which also owns Salem 1 and 2, contend that the aging plants are no longer profitable because of the costs of upkeep and the much lower costs of natural gas. All three sites were approved unanimously by the five commissioners.

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NJ nuclear-power subsidy gets OK for three more years

NJ nuclear-power subsidy gets OK for three more years
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There s Only One Way To Cut Climate Pollution in Half By 2030: HERE S HOW

There s Only One Way To Cut Climate Pollution in Half By 2030: HERE S HOW
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