New Jersey Nuclear Subsidies Renewed Climate News Today : Breaking News, Live Updates & Top Stories | Vimarsana

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New Jersey on Tuesday renewed subsidies of about $300 million a year for the state’s three nuclear power reactors at Salem and Hope Creek, the source of 90% of the state’s carbon-free electricity.
The New Jersey Board of Public Utilities approved the subsidies, called Zero Emission Certificates, for three years for the Hope Creek Generating Station and the twin-unit Salem Nuclear Power Plant, located in Lower Alloways Township on Delaware Bay. The giant reactors supply New Jersey with about 37.5% of its power, including about 90% of its electricity produced without greenhouse gas emissions.
The owners of the plants, Public Service Enterprise Group Inc. (PSEG) of New Jersey and Exelon Corp. of Illinois, had argued that without the subsidies, the plants would struggle to compete in markets where prices are set by low-cost natural gas power plants. The New Jersey Chamber of Commerce applauded Tuesday’s unanimous vote, saying it kept New Jersey on trac ....

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