Ratepayer advocate calls on New Jersey Supreme Court to reverse decision allowing subsidy to nuclear power

Nuclear subsidy gets new challenge, NJ Spotlight TOM JOHNSON, ENERGY/ENVIRONMENT WRITER | APRIL 14, 2021 | ENERGY & ENVIRONMENT, NJ ratepayer advocate asks Supreme Court to consider decision on $300 million subsidy. Regulators are poised to add more,

New Jersey Rate Counsel Director Stefanie Brand is asking the New Jersey Supreme Court to reverse last month’s appellate court decision upholding the award of hundreds of millions in ratepayer subsidies to the state’s nuclear power plants.

In a notice of a petition for certification, the Division of Rate Counsel argued the lower court erred when it upheld the New Jersey Board of Public Utilities’ decision in 2019 to approve $300 million in new surcharges on customers’ gas and electric bills. Without the subsidies, Public Service Enterprise Group, whose subsidiary operates three nuclear units in South Jersey, has threatened to close the plants because they are no longer profitable.

If the high court decides to review the case, it could result in the justices taking up the case at roughly the same time as the BPU, which is scheduled to decide whether the plants — Hope Creek, Salem I and Salem II — qualify for additional subsidies from ratepayers for another three years. The BPU is expected to rule on those applications on April 27. The first subsidy added about $70 a year to what residential customers pay for electricity………   https://www.njspotlight.com/2021/04/nj-rate-counsel-director-stefanie-brand-seeks-supreme-court-reversal-300-million-nuclear-subsidy-pseg/

April 15, 2021 - Posted by Christina Macpherson | business and costs, legal, USA