Pro-Nuclear Legislation in New Jersey Still Unsigned by Governor
SUGAR LAND--May 23, 2018--Written by John Egan for Industrial Info Resources (Sugar Land, Texas)--New Jersey Governor Phil Murphy supported legislation granting nuclear power operators up to $300 million of financial subsidies per year to keep financially struggling nuclear plants open. The state's legislature overwhelmingly passed that bill (S-2313) April 12. But, more than five weeks later, the bill still sits, unsigned, on Gov. Murphy's desk. Why?
The bill was opposed by environmental organizations, consumer groups, competing merchant generators and actor Alec Baldwin. But a potentially more significant reason for Governor Murphy's delay in signing a bill he supported could lie in a provision of the bill that did not limit the financial subsidies to specific nuclear plants in New Jersey.
Within this article: Details on the pending legislation and possible nuclear closures in the region
Companies featured: Public Service Enterprise Group Incorporated (NYSE:PEG), Exelon Corporation (NYSE:EXC), FirstEnergy Corporation (NYSE:FE)
