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New Jersey Governor Phil Murphy Signs Nuclear Support Bill

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New Jersey Gov. Phil Murphy signed a bill on Wednesday, May 23, 2018 that will save two struggling nuclear power plants in the state.  The legislation would require utility customers to spend more than $300 million a year to rescue nuclear power plants run by Public Service Enterprise Group (PSEG).

Murphy signed the nuclear legislation as well as measures boosting wind and solar energy, mandating that half the state’s energy come from renewable energy by 2030.

AAEA presented testimony in support of the legislation in December 2017 and in February 2018.  We also wrote a letter to the governor encouraging him to sign the bill.  

Illinois and New York also have moved to compensate nuclear plants for their zero-carbon value.  New Jersey, with the other states, adopted zero-carbon energy credits, in which the state issues credits to nuclear plants for generating carbon-free power, which they can sell on the open market to raise revenue.

The U.S. depends on the nation’s 99 nuclear reactors for 60 percent of its carbon-free electricity.  (Washington Examiner, 5/24/2018)