Clean Water Action Statement: Nuclear Bailout Bill (S877) Undermines New Jersey’s Renewable Energy Goals

Trenton, NJ — Today, Clean Water Action released the following statement in regards to the PSEG Nuclear Bailout Bill (S877), which was just released out of the jointly held committee hearing: Senate Budget & Appropriations and Assembly Telecommunications & Utilities. Under this bill, PSEG could start receiving subsidies within a year, despite being profitable enough to have bid into auction. It also includes subsidies to fix up their plants. The bill goes minimally through 2030 but can be extended. The bill has been worked on behind-the-scenes with little opportunity for public examination and input. We believe that the bill undermines renewable energy and hurts the communities and ratepayers of New Jersey.

“Clean Water Action is disappointed that the committees could have chosen to hold and fix the bill, rather than release it,” said Amy Goldsmith, Clean Water Action State Director. “Who knows if legislators will fix it and protect ratepayer from sticker shock and expand renewables.”

“Despite many rewrites, S877 is still designed to prop up PSE&G profits for its stockholders with ratepayers bailing out the nuclear industry and putting a roadblock in front of Governor Murphy’s plan to achieve a 21st Century renewable energy future for New Jersey – 100% renewables by 2050,”said Goldsmith. “New Jersey’s energy future should be developed in a fully transparent public arena, which S877 was not. It must be drafted in tandem with the governor’s goals and not at odds with it.”

The highly controversial bill, S877, was sponsored by Senator Stephen Sweeney (S-Gloucester) and Senator Robert Smith (D-Middlesex). It essentially mirrors a former bill that would give up to $300 million in subsidies to PSE&G that was not approved in lame duck session.

“We should be manufacturing wind turbines and solar panels right here in New Jersey and making this state a renewable energy leader,” said Goldsmith. “When we first talked about offshore wind, the plan was to manufacture the blades in Paulsboro, bringing much-needed jobs to that area. But, we got horribly off-track under the Christie Administration and this bill does nothing to correct past mistakes.”

“In fact, the bill mimics the story of the emperor with no clothes,” said Goldsmith. “They are trying to dress it up as a comprehensive renewable energy bill but it is window dressing for an unwanted nuclear subsidy and protracted renewable energy and energy efficiency goals. Clean Water Action called out the legislature today on S877 and its assembly companion bill and urges the Governor to veto if it comes across his desk. This bill as written will undermine the governor’s commitment to establish a 100% renewable legacy for the garden state.”

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Since our founding during the campaign to pass the landmark Clean Water Act in 1972, Clean Water Action has worked to win strong health and environmental protections by bringing issue expertise, solution-oriented thinking and people power to the table. We will protect clean water in the face of attacks from a polluter friendly Administration and Congress. Clean Water Action has 150,000 members in NJ and nearly 1 million nationwide.  www.cleanwater.org/nj