AARP New Jersey Opposes NJ Board of Public Utilities’ Decision to Extend the Nuclear Bailout Tax

Statement from Evelyn Liebman, AARP New Jersey Director of Advocacy

NEW BRUNSWICK (April 27, 2021) – “AARP New Jersey strongly opposes the New Jersey Board of Public Utilities’ decision today to extend the nearly $1 billion nuclear tax that was imposed on every residential and business electricity consumer to boost the profits of PSEG and Exelon, the owners of the Salem 1, Salem 2 and Hope Creek nuclear plants.

“For months, AARP New Jersey urged the Board to end the nuclear tax. AARP New Jersey delivered 5,000 petitions from residents across the state who opposed the tax. AARP also provided testimony that noted independent experts from the New Jersey Division of Rate Counsel and our regional power market monitor analyzed PSEG’s books and determined that PSEG failed to demonstrate, for any of its three nuclear units in New Jersey, that the plants will need to close within three years unless the plants experience a material financial change, i.e. a bailout.

“Pre-pandemic, more than one-third of New Jersey households were struggling to make ends meet and 10% of New Jersey households were living below the federal poverty level. We are disappointed the state has not ended the bailout, especially as the COVID-19 pandemic has exacerbated this problem and has economically crushed millions of New Jersey families.

“Proponents of continuing New Jersey’s unfair nuclear tax, argue that continuing a taxpayer funded nuclear plant bailout is necessary to combat climate change. AARP agrees we must address climate change. But unreasonably higher energy costs on the backs of every residential and business electricity user to boost profits is just not the way to do it – particularly as New Jerseyans are struggling to keep a roof over their head, the lights on and food on the table.

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About AARP New Jersey
AARP is the nation’s largest nonprofit, nonpartisan organization dedicated to empowering people 50 and older to choose how they live as they age. AARP New Jersey educates and advocates on behalf of those 50 and older on issues that are important to them, their families and to all Garden State residents. The organization works to strengthen New Jersey communities with a focus on health security, financial stability and personal fulfilment. To learn more, visit www.aarp.org/nj or follow @AARPNJ on social media.