Deliver Your News to the World

PSEG’s Rushed, Multi-billion Customer-Funded Bailout Benefits No One but PSEG

EDF statement from Mary Barber, Director, New Jersey Clean Energy


A bill aimed at subsidizing Public Service Enterprise Group’s (PSEG) two aging nuclear power plants was passed out of New Jersey’s Senate Environment and Energy Committee and Assembly Telecommunications and Utilities Committee today. If enacted, this customer-funded bailout would require all New Jersey electric customers to pay $300 million for an unlimited number of years to keep the aging plants in operation, adding an extra $40 a year to each customer’s electric bill. PSEG, PSE&G’s parent company, has not provided any documentation or analysis to show these facilities are in need of financial assistance.

“This is blatant financial opportunism: PSEG’s multi-billion dollar customer-funded bailout is being rammed through the lame duck session, with no benefits for New Jersey customers. New Jerseyans are being required to subsidize the utility giant’s aging, expensive nuclear plants, even though PSEG admits the plants are still profitable.”

Environmental Defense Fund(, a leading international nonprofit organization, creates transformational solutions to the most serious environmental problems. EDF links science, economics, law, and innovative private-sector partnerships. Connect with us on Twitter, Facebook and our Energy Exchange blog.

( Press Release Image: )


This news content was configured by WebWire editorial staff. Linking is permitted.

News Release Distribution and Press Release Distribution Services Provided by WebWire.