Opinion: Nuclear power in New Jersey – too big to fail?

Oyster Creek nuclear plant new jersey

AL CAVALLO / CENTRALJERSEY.COM – Most New Jersey residents would probably be surprised to learn that nearly 40 percent of the electricity they use comes from nuclear power plants, about double the national average. Yet in spite of being such an important part of the power generation system for many decades, nuclear plants are in deep financial trouble in deregulated markets such as New Jersey.

How bad is the situation? According to Ralph Izzo, the CEO of PSEG, the owner of New Jersey’s remaining nuclear reactors, “This [money losing operation] needs to be fixed or the plants will close.” PSEG has demanded a $300 million per year subsidy for the next 10 years to be paid for by a surcharge on utility bills …

Al Cavallo is a physicist and energy analyst formerly with the U.S. Dept. of Homeland Security and the U.S. Dept. of Energy.

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