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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