[ad_1]
Energy regulators approved Thursday a PSEG-sponsored grant for the three nuclear power plants it operates in Salem County, which is expected to generate an electricity bill of about $ 40 per year for at least the next three years.
The Public Utilities Board had to either totally reject the grant or approve only one at $ 0.004 per kilowatt hour, according to a law signed last May by Governor Phil Murphy. It could be reduced over the next three years, assuming that PSEG again requests that the subsidy be maintained.
Commissioner Bob Gordon said the choices were "really terrible" – increasing energy costs, which would be particularly detrimental for large institutions such as manufacturers, hospitals and colleges, or undermine Environment by potentially shutting down the source of a third party without carbon emissions. of New Jersey Energy.
"In my opinion, the board of directors is condemned to pay a ransom and the hostages are citizens of New Jersey," said Gordon.
"I think this energy tax will cause job losses, plant closures and make New Jersey even less competitive than it is today," said Gordon, who nevertheless voted in favor, saying that "the economic and health risks exceeded the economic consequences. "
The total cost of the grant is expected to reach $ 300 million per year. This applies to all New Jersey electric utility customers, not just those at PSE & G.
BPU President Joseph Fiordaliso cited climate change as one of the main reasons for his vote. He said that the state should reduce carbon emissions, not increase them by risking leaving nuclear power stations inactive and replaced, at least in the short term, with power from power stations. natural gas in Pennsylvania.
"Not only would this situation be inconsistent with Governor Murphy's commitment to using 100% clean energy by 2050, but it would go against everything we try to do as a community to mitigate. the impacts of climate change, "said Fiordaliso.
"We need to balance the protection of taxpayers with our responsibility to the citizens of the state," he said. "And in making this decision, I think the board must also take into account other external factors, including fuel diversity, resilience, impact on RGGI, the economy of New Jersey, the increase in carbon emissions, the impact on the environment and the Global Warming Response Act. "
The vote for the grant was 4-1. Upendra Chivukula was the only commissioner to oppose it – and a member of the audience whistled on it, while qualifying the shame approval approval in his vote.
"Today, when I look at this case, I think it's a theft on a highway," Chivukula said. "These grants will directly affect taxpayers in the state of New Jersey."
The Director of BPU's State Energy Services Division, Tom Walker, told the Board of Directors that staff who had reviewed the application had determined that PSE & G had not proven that the plants were likely to fail. to be closed in accordance with the law.
"The eligibility team has very frankly determined that the units are financially viable, in the current market conditions and that they do not need the grant," he said. said Walker.
Fiordaliso stated that the legislation requires the BPU to take into account the operational risks and market risks excluded from the typical financial analysis of the staff.
"And it is up to the board to administer the weight that should be attributed to these factors," Fiordaliso said.
PSEG said it would shut down nuclear power plants without subsidies and has also submitted this week documents to the federal government behind the process. This request can be withdrawn.
In a statement, PSEG welcomed the decision and will review BPU's order to better understand the impact.
"The BPU has just saved hundreds of millions of dollars to the state's population for higher energy costs, thousands of lost jobs and tons of harmful air emissions for the environment, "said the company.
Jeff Tittel, director of the New Jersey Sierra Club, called it a "taxpayer and environmental scam."
"It's very disappointed but not unexpected," said Tittel. "The BPU has been Promoting Utilities 'board of directors for too many years, and today, it has just given green light to the company' s largest business grant. State history. "
Stefanie Brand, Director of the Division of Rate Counsel, said PSEG's tactic was that it was getting the money it was looking for, even though nuclear power plants were cost-effective and financially viable.
"It was clear that at least a majority of them did not feel that rate was fair and reasonable, so they have now approved a rate that tells them not to think if they are fair and reasonable," Brand said. "And I guess we'll have to ask a court to see if that's acceptable or not."
Brand said the problem could worsen, with PSE & G having about $ 10 billion in claims before the BPU.
"We fight them every step of the way," said Brand. "But if someone does not have the guts to say no, then I do not know how anyone will be able to do business in this state."
New Jersey: decoded cut across the cruel and comes to what matters in the news and politics of New Jersey. Follow on Facebook and Twitter.
Michael Symons is the head of the state house office for New Jersey 101.5 and the editor of New Jersey: decoded. Follow @NJDecoded on Twitter and Facebook. Contact him at [email protected]
[ad_2]
Source link