New Jersey’s 3 nuclear power plants seek to extend licenses for another 20 years
Associated PressThe company that owns New Jersey’s three nuclear power plants said Wednesday it will seek federal approval to operate them for another 20 years. But the three power plants run by PSEG Nuclear LLC provide nearly half of New Jersey’s electricity, and a licensing extension represents a potential hedge against not enough wind projects being available to meet the state’s needs. “Seeking to renew our licenses signifies our commitment to continuing to contribute to New Jersey’s clean energy future and serving as a vital economic engine for the local community.” Beginning this year, a nuclear production tax credit included in the federal Inflation Reduction Act will provide nuclear generators with nine years of financial support through 2032. And New Jersey officials also approved a $300 million customer-funded subsidy for the state’s nuclear industry in 2019 despite its utilities board determining that the industry was “viable” and not in need of a subsidy.
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