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N.J. re-ups $300 million subsidy to prop up nuclear energy

But several commissioners said during the board’s virtual meeting Tuesday morning that officials and board members at PSEG told them they would close the nuclear plants for anything less than the full $300 million subsidy.
“Apparently the legislature’s call for data-based decision making, months of analysis by various consultants, and the preparation of voluminous reports by numerous parties were a meaningless exercise,” said Commissioner Bob Gordon. “Personally, I’m very disappointed by the level of intransigence in this exercise of market power.”
PSEG CEO Ralph Izzo previously said before the BPU and in an earnings call that the company would actually need more than the full amount allowed under the law to operate the plants. The cost of operating nuclear plants and complying with strict regulations, lower prices driven by an increase in natural gas production, and the lack of a nationwide greenhouse gas emissions policy has put PSEG’s nuclear energy sect ....

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PSEG Applauds BPU's Decision to Extend Zero Emission Certificates (ZECs) for an Additional Three Years to New Jersey's Nuclear Plants

PSEG Applauds BPU s Decision to Extend Zero Emission Certificates (ZECs) for an Additional Three Years to New Jersey s Nuclear Plants
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NEWARK, N.J., April 27, 2021 /PRNewswire/ Today, the New Jersey Board of Public Utilities (BPU) unanimously voted to extend the Zero Emission Certificates (ZECs) for New Jersey s three nuclear power plants, Hope Creek and Salem 1 and 2, for an additional three years.
In 2018, the New Jersey Legislature and Gov. Phil Murphy enacted legislation that established a Zero Emission Certificate program to preserve nuclear plants that provide more than 90% of the state s carbon-free electricity. In the state s Energy Master Plan and the Department of Environmental Protection s Global Warming Response Act 80x50 report, New Jersey indicated its intent to preserve its carbon-free nuclear generating resources into the 2050s to meet its 100% clean energy goals. ....

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New Jersey can shelve its last 2 coal power plants - at no additional cost | Opinion

New Jersey can shelve its last 2 coal power plants - at no additional cost | Opinion
nj.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from nj.com Daily Mail and Mail on Sunday newspapers.

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PSEG Announces 2020 Results

PSEG Announces 2020 Results
NON-GAAP OPERATING EARNINGS OF $3.43 PER SHARE
Non-GAAP 2021 Operating Earnings Guidance $3.35 - $3.55 per Share
Utility Earnings Expected to Exceed 80% of PSEG 2021 Guidance Midpoint
Strategic Alternatives Review of Non-Nuclear Generation Assets on Track
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NEWARK, N.J., Feb. 26, 2021 /PRNewswire/ Public Service Enterprise Group (PSEG) reported 2020 Net Income of $1,905 million, or $3.76 per share, compared to Net Income of $1,693 million, or $3.33 per share for 2019. Non-GAAP Operating Earnings for 2020 were $1,741 million, or $3.43 per share, compared to $1,666 million, or $3.28 per share for 2019. Non-GAAP Operating Earnings for the full-year 2020 exclude items shown in Attachments 8 and 9. ....

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