NJ Rate Watchdog Fights $800M PSEG Nuclear Plant Subsidy

By Clark Mindock (October 28, 2021, 5:00 PM EDT) -- New Jersey's rate watchdog says the state's utility regulator needlessly approved a ratepayer-backed $800 million in subsidies for nuclear power plants despite evidence that the financial boosts weren't necessary, and wants those approvals reversed.

The state's Division of Rate Counsel told a Garden State court earlier this month that the New Jersey Board of Public Utilities' decision to give the subsidies to Public Service Enterprise Group Inc. for three of its nuclear power plants failed to take into account evidence that the full subsidies weren't needed.

Despite that evidence — and even prior instruction from state courts that the board should...

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