We need your help in stopping legislation (A3724/S2313) which will cause all New Jerseyans to pay more ($300 million per year) on their energy bills for a dirty nuclear bailout and block New Jersey's renewable energy goals.
Take Action! Contact Governor Murphy. Urge him to fight for a 21st century renewable energy economy and veto the nuke bailout bill.
This legislation, which was pushed through by Senate President Sweeney, has been worked on behind-the-scenes with little opportunity for public examination and input. It has passed the NJ Legislature and is now on the governor's desk.
Spending millions of dollars to bail out old, unprofitable 20th century energy sources makes no sense. It’s the equivalent of spending big bucks to keep the horse-and-buggy industry alive while Henry Ford is moving cars off the assembly lines.
Our new governor, Phil Murphy, has made it clear that he will prioritize investing in renewable energy technology. This will bring economic, health and environmental benefits, while at the same time keeping the cost as low as possible for ratepayers. In contrast, NJ’s legislative leadership is creating a roadblock to achieving this goal.
Please contact Governor Murphy today. Urge him to veto the nuke bailout bill (A3724/S2313). Otherwise, conditionally veto it with the following improvements:
Please veto the bill as currently written when it comes to your desk. Otherwise, conditionally veto it to make the following improvements:
- Guarantee proof of severe financial distress by mandating review of the application by the Ratepayer Advocate and deleting reference to “cost of capital,” and “market risk” as basis for the bailout.
- There should be a guarantee of the full inclusion of the Ratepayer Advocate, and there shouldn’t be additional restrictions placed on their office’s ability to review confidential documentation of financial need.
- Conduct a BPU study to assess the need for a subsidy before the process starts.
- Establish a clear, objective, neutral standard for a nuclear subsidy program and require a full analysis of cost and revenue during a BPU process, conducting the proceeding under the normal rules of the Administrative Procedure Act.
- Establish a process for an annual review or true-up of each nuclear plant of its costs and revenue so any annual shortfall is the amount ratepayers are charged.
- Ten-year sunset provision: The New York and Illinois ZEC programs both sunset after ten years, subject to reauthorization by the legislature; New Jersey’s program should do the same. Note, if the plants are able to retire earlier because of the accelerated ramp-up of renewables, the plant’s life should not be extended via subsidies.
- Rely on regional grid operator (PJM) process for regionally funded reliability payments or any other federal payments for reliability or diverse energy mix through FERC, Department of Energy or any other federal agencies before imposition of a New Jersey-only nuclear subsidy. Any state-provided nuclear subsidy program should be immediately retired upon the availability of any federal or regional payments.
- No state funding should go to other out-of-state nuclear facilities owned by PSEG or Exelon, including the Peach Bottom, Limerick or Three Mile Island or any other out-of-state facility.
- Require plant owners to fully fund and implement a just transition plan for employees.
- Protect union workers at the facilities by preventing hiring of private subcontractors to replace union employees at the facilities.