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Bill to Help Rescue New Jersey Nuclear Plants Is Unveiled 

 New Jersey’s electric utilities would be required to purchase credits from nuclear power plants to help rescue the industry under new legislation. U.S. News, By MICHAEL CATALINI, Associated Press, 15 Dec 17  TRENTON, N.J. (AP) — New Jersey‘s electric utilities would be required to pay for credits from nuclear power plants under legislation lawmakers unveiled Friday as part of an effort the state’s largest energy company says is needed to rescue a major source of power in the state’s energy grid.

PSEG said that its two nuclear plants account for between 40 and 50 percent of electricity production in New Jersey, but are in danger of becoming financially unviable within two years. They said that would cost the state 1,600 jobs.

The financial rescue effort, which has been done in other states like New York and Illinoisas well, has garnered significant opposition from consumer groups and environmental organizations.

“This bill is a direct subsidy from the ratepayers hidden in gobbledygook,” said New Jersey Sierra Club director Jeff Tittel………….

A TV, radio and online ad campaign has also emerged surrounding the issue in New Jersey, with PSEG financing commercials touting the value of nuclear power and the AARP backing ads showing people concerned over higher utility bills.

A joint Assembly-Senate hearing on the legislation is set for Wednesday. https://www.usnews.com/news/best-states/new-jersey/articles/2017-12-15/bill-to-help-rescue-new-jersey-nuclear-plants-is-unveiled

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December 16, 2017 - Posted by | politics, USA

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