NJ Politics Digest: PSEG to Close Nuclear Plants Without NJ Subsidies

A nuclear power plant. JEAN-CHRISTOPHE VERHAEGEN/AFP/Getty Images

New Jersey’s largest energy company warned state lawmakers on Monday that it would shut down three of its nuclear power plants if it doesn’t get millions of dollars in ratepayer subsidies.

Ralph Izzo, the chief executive of PSEG, told two legislative committees that the plants won’t be profitable within two years because cheap natural gas is driving down energy prices. He said he’d have to close the plants unless they get financial help, but opponents have called the proposed subsidy a “nuclear bailout.” There is currently no bill to prop up the power plants, but state Sen. Bob Smith (D-Middlesex) told NJTV that legislation will likely be introduced during the lame duck session.

New Jersey’s quest to legalize sports betting reached the U.S. Supreme Court, and a majority of the justices hinted they would side with the state and strike down a federal ban on sports wagering. A decision is expected by June.

And Governor-elect Phil Murphy joined the governors of New York and California to condemn the Republican tax overhaul moving through Congress. The Democrats said the GOP tax plan would devastate their states because it would scale back the State and Local Tax (SALT) deduction.

Quote of the Day: “It leaves in place a state law that the state does not want, so the citizens of the state of New Jersey are bound to obey a law that the state doesn’t want but that the federal government compels the state to have.” — Supreme Court Justice Anthony Kennedy on a federal law banning New Jersey from legalizing sports betting.

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NJ Politics Digest: PSEG to Close Nuclear Plants Without NJ Subsidies