A newly-formed coalition of consumer, business, and environmental groups is opposing ratepayer-funded subsidies for nuclear power plants.
Evelyn Liebman with AARP New Jersey said some power companies are seeking the subsidies from the state to increase the profitability of their aging nuclear power plants.
“If New Jersey ratepayers are saddled with these new taxes, not only does it hurt our state economy, but it presents a competitive advantage for other states that are in the grid whose ratepayers are not paying those kind of new taxes.”
Tony Sandkamp owns a cabinet woodworking company in Jersey City. He’s worried that the subsides would increase power costs for small businesses.
“It can have a significant impact on our bottom line, and it means less money for inventory, for operating expenses, for payroll, which means less money for jobs.”
Environment New Jersey Director Doug O’Malley says giving subsidies to nuclear power plants could hinder the move toward more clean energy.
“Our concern is that if New Jersey is going to be providing a nuclear bailout, it’s going to crowd out other investments including energy efficiency.”
The coalition said unlike some nuclear plants in other states, those in New Jersey are profitable and are obligated to keep operating for the next three years.