Murphy Signs Bill to Help PSEG Nuclear Energy PlantsLast Edited:
A new bill to rescue New Jersey's nuclear energy industry has been signed into law.
Last week, Governor Phil Murphy signed the measure that will provide $300 million annually to the industry, which Murphy says will help strengthen New Jersey's renewable energy goals.
The legislation stems from a request from PSEG for financial help for its three nuclear plants, which supply about 40 percent of the state's electricity.
The nuclear power company said the plants were at risk of shutting down if the state did not step in to help.
The new measure is estimated to cost the public around $41 a year on their utility bills.
The cost of the renewable energy legislation is still unclear.
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