NJ OKs $300M PSEG Nuclear Plant Ratepayer Subsidy

Law360 (April 18, 2019, 7:32 PM EDT) -- The New Jersey Board of Public Utilities on Thursday voted in favor of a $300 million ratepayer subsidy to keep three Public Service Enterprise Group Inc. nuclear power plants afloat, sealing a proposal mired in debate over how to incentivize clean energy while keeping it affordable for Garden State customers.

The board’s approval allows PSEG to participate in the state’s zero emissions certificate, or ZEC, program in which customers pay $0.004 for every kilowatt of carbon-free energy produced by plants deemed eligible for the initiative. The board has said the goal of the program, which it approved in November, is to...

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