Thursday, December 1, 2016

New York's nuclear subsidy attracts New Jersey attention

PSEG chairman and CEO Ralph Izzo (AP photo by Mel Evans )
David Giambusso reports for Politico:

New York's gargantuan nuclear subsidy is attracting the attention of utility leaders and policy advocates across the river in New Jersey.

Ralph Izzo, the chairman and CEO of PSEG, New Jersey's largest utility which owns much of the nuclear generation in the state, laid out his vision in June for zero emission credits for nuclear power to keep it competitive with natural gas while also crediting it for not emitting greenhouse gases. Shortly after, New York announced it would give upstate reactors $1 billion in ZEC's over two years to keep struggling upstate plants afloat.

In an interview with POLITICO New Jersey, former New Jersey governor and administrator of the U.S. Environmental Protection Agency Christine Todd Whitman said New Jersey should consider doing the same.

"Our Board of Public Utilities is looking very closely at the New York model and the potential for adopting it," said Whitman, who now works for the pro nuclear group, the Clean and Safe Energy Coalition. "When you think about the outsize role that nuclear plays in clean air ... it's a huge part of it."

Read the full story here 

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