Groups Speak Out Against Murphy Nuke Bill Package Signing
Groups Speak Out Against Murphy Nuke Bill Package Signing
At one pm today various groups are holding a tele-press conference to speak on today’s bill signings by Governor Murphy. The Nuclear Subsidy S2313 (Sweeney)/ A3724 (McKeon) and solar renewable energy standards-modify S2314 (Sweeney)/ A3723 (McKeon), were originally one bill but then turned into multiple. Today, Governor Murphy signed both of these bills.
“Governor Murphy is shamefully selling out ratepayers and clean energy in giving PSEG the biggest corporate subsidy in state history: $300 million a year. This bill package will mean New Jersey stays hooked on nuclear power at the expense of renewables like solar and wind. It will essentially block our efforts to get to 100% renewable energy and will lead to a crash in our solar market. The so-called green bill was created as cover for this nuclear giveaway and the wind project that doesn’t really give us any wind,” said Jeff Tittel, Director of the New Jersey Sierra Club. “It’s incredulous that they’re holding their bill signing at a solar farm considering that the bill will end NJ’s solar program and crash the market a year from now. These laws will move us backwards with clean energy and are a complete contradiction to Murphy’s campaign promises for renewables and a green economy.”
This is a $3 billion subsidy for PSEG’s nuclear plants that don’t need the money. They’re signing the bill earlier in the day before PJM releases the auction results. If the plants make auction to be profitable by 2024, they don’t need the subsidy, but this bill has already been signed so they get it anyway. They can also double dip and get federal aid through FERC or the PJM. Ratepayers will be paying $3 billion in 10 years but it could go beyond that.
“The nuclear bailout legislation Gov. Murphy signed this morning is wrongheaded. Committing $300 million a year for an unlimited time period to aging but profitable nuclear power plants with a lack of true financial transparency doesn’t make sense. Ratepayers have at least three billion reasons to be skeptical and this will become a huge roadblock for Gov. Murphy’s goal to transition to a clean, renewable energy future,” said Doug O’Malley, Director of Environment New Jersey.
The nuclear subsidy bill also lacks language to protect workers and prevent out-of-state facilities from receiving subsidies. We believe that the subsidies should require an annual financial review, clawback provisions, a ten-year sunset provision, and clear participation by the NJ Division of Rate Council. It also does not guarantee that when these plants close, they are dedicated to being replaced with renewable energy.
“PSEG has successfully power grabbed both money and NJ politicians for their own financial gain yet again as they have done for years. Welcome to New Jersey politics,” added Amy Goldsmith, NJ State Director, Clean Water Action. “I just hope that whatever they traded the signing of this bill, $300 million per year over a minimum of 10 years to one corporate entity, for was worth it. This is a sad day for NJ.”
In the “green” bill, there is no cap for coal, oil, gas, pipelines, or nuclear but this bill unfairly targets renewable energy by placing a cap on it, limiting the amount of renewable energy we can use in the state. Our concern is the cost of solar SREC program, which have been analyzed to take up 6% of the cap, whether it’s a 7% or 9% cap. The reason why we will not reach our renewable energy goals is because OLS says that in 2020 the cost of our RPS will exceed the cap by $280 million. This means the BPU will set aside the Renewable Portfolio Standard for that year. This leaves no room for New Jersey to move forward to meet targets of the Renewable Portfolio Standard (50% by 2030).
“This subsidy is simply a transfer of wealth from utility customers to a single, profitable company, seeking to boost shareholders’ profits. The need for this subsidy has not been demonstrated and the bill is crafted to continue the subsidy without proper review or evidence of need. It sets a dangerous precedent that utility customers are an ATM machine whose dollars are here for the taking. We are disappointed with our lawmakers for advancing this bill and with Governor Murphy for signing it,” said Dena Mottola Jaborska, NJ Citizen Action.
A year after signing these bills, the solar program will end. Despite once being a leader in the country for solar power, our state solar market will collapse completely, no longer accepting applications for solar projects. This could lead to the bankrupting of countless renewable energy projects.
“AARP New Jersey regrets Governor Murphy’s decision to sign a bill (S2313) which will impose what is effectively a tax on already over-burdened taxpayers to subsidize profitable power corporations,” said Evelyn Liebman AARP NJ Director of Advocacy. “This legislation will cost every New Jersey ratepayer and business an additional $300 million a year for electric utility service, impacting those already struggling under the weight of the 11th highest electricity rates in the nation. It is especially troubling that S2313 has been signed into law absent any independent and verifiable evidence of the economic viability of these power plants. Given Governor Murphy’s disappointing decision to enact S2313, the question of whether New Jersey residents should have to pay an unnecessary $300 million a year nuke tax will now be decided by the New Jersey Board of Public Utilities. AARP New Jersey will continue to fight on behalf of New Jersey’s ratepayers to ensure that they don’t pay one dime more than necessary for adequate, affordable and reliable electricity service.” (AARP only opposes The Nuclear Subsidy S2313 (Sweeney)/ A3724 (McKeon) and takes no stance on S2314 (Sweeney)/ A3723 (McKeon))
The tele-press conference is happening at 1:00 pm on Wednesday, May 23rd. Governor Murphy signed the bills at 11 am in South Brunswick.
“New Jersey needs renewable, clean energy, not old nuclear technology propped up at the public’s expense. The question is – Do we want to invest in long term renewable energy sources or not? If we do, nuclear power is, like fossil fuels, not sustainable or affordable, and certainly doesn’t deserve to be bailed out with a sweetheart deal. The only responsible choice today is to develop the modern renewable technologies like solar and wind that will power our future with clean sustainable energy and not pollute our air and water,” said Tracy Carluccio, Deputy Director, Delaware Riverkeeper Network.
