New Jersey Senate Shelves Vote on Nuclear Subsidy Bill

A controversial bill that could force New Jersey ratepayers to bail out the state’s nuclear power plants hit a snag on Monday as the Senate shelved a vote on the legislation.

Senate President Steve Sweeney (D-Gloucester) said lawmakers are still making adjustments to the legislation, which has already gone under several revisions. Sweeney said the Senate could vote on the bill next month.

“It’s a big bill. It’s a complicated bill. And we’re going to continue to press forward,” Sweeney said. “Like everything else, we’re adjusting things and look forward to getting it passed.”

In its current form, the bill (S877) would effectively impose a surcharge on ratepayers to prop up nuclear power plants owned by PSEG—the state’s largest energy company—if a state board determines the plants need financial assistance. A typical household could see energy bills rise $31 to $41 per year to cover the cost of the estimated $300 million subsidy, officials have said.

Read more: http://observer.com/2018/02/new-jersey-senate-shelves-nuclear-subsidy-bill-vote/