"New Jersey Governor Phil Murphy signed a bill requiring utility customers to spend more than $300 million a year to rescue struggling nuclear power plants run by Exelon Corp. and Public Service Enterprise Group Inc.
The legislation signed Wednesday aims to keep nuclear plants operating in the state, after owners warned the facilities were no longer economic amid lower power prices. Murphy, a Democrat who took office in January, also signed a bill calling for half the state’s energy to come from renewable power by 2030.
“To reach our clean energy goals we will need to keep these plants open and safely operating,” Murphy said at the bill signing at a solar farm under construction in Monmouth Junction. New Jersey’s nuclear plants, he said, support 5,800 jobs vital to New Jersey’s economy."
Elise Young and Brian Eckhouse report for Bloomberg May 22, 2018.
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