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New York Governor Cuomo under fire for subsidising nuclear power

taxpayer bailoutCritics blast Cuomo’s $7.6B subsidy for nuclear plants, WBFO.org, By KAREN DEWITT, 8 Dec 16,  A long-term energy plan by the Cuomo administration that includes a nearly $8 billion subsidy to two upstate nuclear power plants is being challenged from both ends of the political spectrum, and a lawsuit has been filed to try to stop the deal.

Gov. Andrew Cuomo’s Public Service Commission plans to convert 50 percent of the state’s power sources to renewable energy over the next decade and a half. A controversial part of that program includes a $7.6 billion state-financed subsidy to a company that now runs two New York nuclear power plants ­– Nine Mile Point in Oswego and Ginna near Rochester – and is taking over a third plant, FitzPatrick, also in Oswego.

That has angered environmental groups, who filed a lawsuit, saying the PSC “acted improperly when it mandated a massive subsidy to prop up New York’s aging, failing nuclear power plants as part of the State’s Clean Energy Standard.”

Other progressive-leaning groups, including the New York Public Interest Research Group, also object to the deal.

“In some ways, it’s a straight-up ratepayer issue,” said Blair Horner, NYPIRG’s legislative director.

He said the deal will result in $2.3 billion in increased payments for residential utility customers, and even more for businesses. That’s in a state that already has among the highest utility rates in the nation.

“Roughly 800,000 New Yorkers are already having a hard time paying their existing electric bills,” Horner said. “This isn’t going to make it any better.”

Not only left-leaning groups oppose the deal. Fossil fuel companies like Shell and BP have objected, filing complaints with the PSC. Oil and gas companies would have to essentially help subsidize the deal through the price of zero emission tax credits bought and sold in New York…..http://news.wbfo.org/post/critics-blast-cuomos-76b-subsidy-nuclear-plants

December 9, 2016 - Posted by | politics, USA

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