Nuclear subsidy approved, could cost NJ ratepayers billions

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Salem nuclear power plant, new jersey

NICHOLAS PUGLIESE / NORTHJERSEY.COM – It is now largely up to Gov. Phil Murphy whether to subsidize now-profitable nuclear power plants and increase the state’s reliance on renewable energy at a likely cost of billions to New Jersey consumers.

The subsidy means the average household could be paying about $30 to $40 more a year for electricity. Commercial customers and other large energy users are expected to pay much more, costs that also could be passed to consumers.

After months of wrangling and false starts, the Senate and Assembly on Thursday approved a controversial bill, S-2313/A-3724, that would prop up two nuclear plants owned by Public Service Enterprise Group in Salem County, subject to approval by the state Board of Public Utilities.

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