NJBIA Statement on BPU Approval of $300 Million in Ratepayer Subsidies for Nuclear Industry

NJBIA Vice President of Government Affairs Ray Cantor issued the following statement regarding the Board of Public Utilities’ action today approving Zero Emission Certificates (ZECs) to subsidize the nuclear power industry.

“The New Jersey Business & Industry Association is concerned about the impacts of the Board of Public Utilities’ action today approving the full allocation of Zero Emission Certificates to the State’s three nuclear generating plants.

“NJBIA does support our nuclear power industry, as well as the development of other energy sources – but not at any cost. And the cost to close the plants versus the expense of keeping them open should be fully recognized.

“Because there will be negative impacts on the cost of business, as acknowledged by several Board members, we call upon the Board and the Legislature to take further actions to reduce energy costs, as well as the overall tax burden and costs of doing business in New Jersey.”