The nuclear industry is tightening the screws on lawmakers to deliver subsidies plant owners insist are needed to keep the energy flowing. Public Service Enterprise Group (PSEG) and Exelon, co-owners of two South Jersey nuclear plants, have told the Securities Exchange Commission (SEC) they are suspending planned capital improvements until legislation is approved “that sufficiently values the attributes of nuclear generation and Salem benefits from such legislation.” In other words, give us the subsidies we deserve, or we’re walking. That’s a bully move, no doubt about it. The question now is how sincere the companies really are, and whether they’re prepared to follow through with ongoing threats to close. Legislators aren’t likely to call their bluff. But that doesn’t mean they have to deliver everything owners want.
APP 7th March 2018 read more »