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New Jersey extends $300 million in nuclear subsidies for Salem County reactors

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New Jersey on Tuesday renewed subsidies of about $300 million a year for the stateâs three nuclear power reactors at Salem and Hope Creek, the source of 90% of the stateâs 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 Tuesdayâs unanimous vote, saying it kept New Jersey on trac ....

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New Jersey regulators extend nuclear subsidies for PSEG/Exelon reactors

EnergyNew Jersey regulators extend nuclear subsidies for PSEG/Exelon reactors
Reuters
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The thermoelectric plant Bocamina is seen after Unit I was closed today amid a drive by Chile to end carbon emissions from its grid, in Coronel, Chile December 31, 2020. REUTERS/Jose Luis Saavedra
New Jersey utility regulators on Tuesday voted unanimously to extend subsidies, called Zero Emission Certificates (ZECs), for the state s three nuclear power reactors at Salem and Hope Creek for an additional three years.
The reactors are owned in whole or in part by units of New Jersey energy company Public Service Enterprise Group Inc (PSEG)(PEG.N) and Illinois energy company Exelon Corp (EXC.O). ....

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New Jersey extends $300 million in nuclear subsidies for Salem County reactors

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Philadelphia Inquirer
Apr. 28 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 vo ....

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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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