N.J. Legislature Passes $300 Million Bill to Preserve Nuclear Industry

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NEW JERSEY -

A bill that could help save New Jersey's nuclear industry is headed to Governor Phil Murphy's desk following State Senate approval.

On Thursday, April 12th, the New Jersey Assembly and Senate passed legislation that would provide the state's largest nuclear power company, PSEG, with $300 million a year for financial support.

The bill, which carries a potential cost of $41-a-year to utility ratepayers, comes after the nuclear company said last year that without financial assistance they would be forced to shut down their operations.

The bill passed after several re-writes, a push from one of the state's most powerful lawmakers, plus objections from consumer advocates and environmentalists who say it penalizes New Jersey residents.

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