Nuclear Subsidy Bill HELD in Senate

Today the Senate was supposed to vote on the nuclear subsidy bill S877 (Sweeney), but instead it was HELD. The bill would establish the Nuclear Diversity Certificate program. This is identical to the bill that failed to get through during last session. The bill supports Chris Christie’s original negotiations to give PSEG subsidies for their nuclear plants in New Jersey. Under this bill, PSEG could start receiving subsidies within a year, despite being profitable enough to have bid into auction. It also includes subsidies to fix up their plants. The bill goes minimally through 2030 but can be extended. The bill has been worked on behind-the-scenes with little opportunity for public examination and input.

“Every time a bad bill is held, it’s a victory. The people don’t want nuclear subsidies because they will hurt ratepayers and block renewable energy. This bill would right a blank check to PSEG that they don’t need while undermining Governor Murphy’s goal of 100% renewable energy by 2050. The bill would subsidize PSEG’s nuclear plants that don’t need the money and by doing so, limit the amount of renewable energy from solar and wind that is built in our state. It’s important that people are standing up against this dangerous and unnecessary bill,” said Jeff Tittel, Director of the New Jersey Sierra Club. “The Senate has held this nuclear subsidy bill because they couldn’t get the votes they need to pass it. We need to keep fighting to stop this bill because it’s bad for the environment, the ratepayers, and the workers.”

PSEG’s plants aren’t in any jeopardy and don’t need any financial assistance for at least a couple years. There’s also no language in the bill that prevents them from selling the plants after they get the subsidies. There’s also nothing in the bill to protect workers. Even if PSEG gets the subsidy, they can still lay off workers to increase revenue. There isn’t even language that includes a closure plan with a just transition for the workers. There’s also no language for replacing the plants when they close with renewables. This means that when the plants close, they can be replaced with natural gas.

“We need to keep fighting this bill because it’s nothing but a complex green scam that puts the environment and ratepayers of NJ at risk. There is no need to push through this bill that will severely interfere with Governor Murphy’s clean energy goals. There is zero justification for any nuclear subsidies. It’s nothing more than giving PSEG a blank check from the ratepayer that will undermine progress for renewable energy in New Jersey. This bill hurts renewable energy and ratepayer’s wallets. The bill is nothing but a green scam to rip off ratepayers to raise their dividends and stock prices,” said Jeff Tittel, Director of the New Jersey Sierra Club.