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New Jersey’s largest utility is canceling spending on nuclear power project

PSEG canceling nuclear plant spending due to stalled bailout, By: MICHAEL CATALINI, Associated Press 

Public Service Enterprise Group said in a Securities and Exchange Commission filing dated Wednesday that it will halt the projects at the Salem nuclear plant in southern New Jersey. A spokesman said the spending covered efficiency and reliability maintenance.

PSEG says the decision comes after “recent postponements” of a vote on legislation to provide the financial rescue. The bill, which has undergone several changes and was held during a recent session, includes clean-energy requirements that lawmakers say were sought by Democratic Gov. Phil Murphy.

PSEG filed the document along with Exelon, which is a co-owner of the plant. It said that funding for the projects may be restored if legislation is enacted “that sufficiently values the attributes of nuclear generation and Salem benefits from such legislation.”…….http://www.actionnewsjax.com/news/pseg-canceling-nuclear-plant-spending-due-to-stalled-bailout/709838467

 

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March 3, 2018 - Posted by | business and costs, USA

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