New Jersey approves $300 million in nuclear subsidies; PSEG had threatened to close reactors

Salem Nuclear Power Plant

ANDREW MAYKUTH / PHILLY.COM – With the state’s nuclear reactors under imminent threat of closure, New Jersey regulators on Thursday voted to approve $300 million in ratepayer subsidies to benefit nuclear power generators, primarily benefiting Newark-based PSEG.

The New Jersey Board of Public Utilities (BPU) voted 4-1 Thursday to approve new zero-emission credits for the Salem and Hope Creek power stations in South Jersey. The approval comes two days after PSEG, the plant operator that lobbied lawmakers to approve the subsidy last year, notified authorities that without state support it planned to close the reactors beginning this fall …

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