PSE&G filed to close three of their nuclear power plants at Salem and Hope Creek. Meanwhile only two days later, the BPU will be voting on the biggest subsidy in state history, $300 million a year for PSE&G’s nuclear plants. The Docket No. EO18080899 – In the Matter of the Implementation of L. 2018, c. 16 Regarding the Establishment of a Zero Emission Certificate Program for Eligible Nuclear Power Plants. Plants included to receive Zero Emissions Certificates include Salem 1 Nuclear Power Plant, Salem 2 Nuclear Power Plant, and Hope Creek Nuclear Power Plant. The Nuclear Subsidy Law requires the NJ BPU to create a program and mechanism for the issuance of Zero Emission Certificates (“ZECs”).
“PSEG filed a notice that they will close their nuclear plants a day before BPU is set to vote on giving them the billions dollars’ worth of nuclear subsidies. They are trying to blackmail the BPU in giving them $300 million a year subsidy. They have told the BPU they want these subsidies for their three plants or else they will close. Even in their filing, PSE&G said they would withdraw if they get their subsidies. PSE&G are trying to threaten and bully the BPU to get what they want.,” said Jeff Tittel, Director of the New Jersey Sierra Club. “PSEG is playing this desperate gamble to try and push through this subsidy that the public opposes and will hurt the ratepayers. They are willing to go to nuclear defcon5 war to get it anyway.”
BPU will be voting on Thursday, April 18th on whether or not to give PSE&G a massive subsidy for their nuclear plants, $300 million worth. The law requires consumers to buy 40% of electricity from nuclear power plants. There is no sunset provision, so this can go on indefinitely.
“PSE&G won’t release their financial reports and are now trying to play the TRUMP card. They promised transparency but have left New Jersey in the dark and have been working to push this subsidy through behind closed doors. It is critical that the BPU see that PSE&’s plants are not only profitable but don’t even meet the standards to get the subsidy. This money is not needed and can be spent on fixing our state’s solar program or making offshore wind a reality,” said Jeff Tittel, Director of the New Jersey Sierra Club. “We ask that the BPU not to fall for PSE&G’s foolish games and protect the ratepayers! This is all part of their bluff to get what they want. PSEG is pulling their last straw because they are afraid BPU might do their job and not give them their subsidy.”
published gloucestercitynews.net | April 18, 2019