Last week, the New Jersey’s Board of Public Utilities completed a series of public hearings to consider how to implement the zero-emission credit (ZEC) program that Gov. Phil Murphy signed into law earlier this year.
NJ will be the 4th state to act on preserving its nuclear plants and recognize nuclear energy’s clean energy attributes the same way that renewable energy certificate (REC) programs have done for solar and wind generation in many states for years.
Joseph F. Accardo Jr., deputy general counsel and chief regulatory officer for PSEG, said the company’s detailed financial records will show that Hope Creek, Salem 1 and Salem 2 nuclear power plants will close within three years without the subsidies.
According to the U.S. Energy Information Administration, both Hope Creek and Salem nuclear plants provided more than 95 percent of the state’s carbon-free electricity and nearly 40 percent of its total electricity. By continuing to operate under a ZEC program, these plants will save almost 14 million tons of CO2 annually, equivalent to the emissions of all the cars in the state.