BPU approves $300M nuclear subsidy, despite staff finding no need for it

By District Energy posted 04-23-2019 18:04

Recommend

Danielle Muoio, Politco

Summary

TRENTON — The state Board of Public Utilities on Thursday voted in favor of charging utility customers an estimated $300 million to subsidize three South Jersey nuclear plants controlled by Public Service Enterprise Group, despite the agency’s own staff finding that the facilities “were not in need of the subsidy.”

The vote was uncharacteristic for the regulatory agency, which historically adopts whatever its staff recommends. On Thursday, BPU staff took the rare step of choosing not to make a formal recommendation and raised several issues with PSEG’s justification of financial need.

Although BPU staff found the nuclear facilities are viable, four of the five commissioners that ultimately control the agency voted in favor of charging residents and businesses $300 million per year to pad the plants’ bottom line. The only commissioner to vote against the subsidy was Upendra Chivukula, who called the ordeal a “disgrace.”