If these financial strains force the New Jersey’s nuclear plants to close there would be significant economic and environmental consequences for New Jersey:
- Higher electricity costs: $400 million more per year for New Jersey families and businesses; Average customer’s bill will go up more than $43
- Lower GDP: A reduction of more than $809 million in New Jersey’s annual gross domestic product;
- Job losses: 5,800 fewer jobs in New Jersey;
- Reduced state revenue: $37 million less in state taxes: and
- More air pollution: 14 million tons of CO2 and tens of thousands of tons of other pollutants each year, at total social and public health costs of $733 million.
Two economic studies found that New Jersey’s nuclear plants are critical to the state’s economy, and maintaining a resilient, affordable supply of electricity for 6.2 million people. Below, see these studies – along with PSEG Chairman Ralph Izzo’s Dec. 4th testimony at the joint committee hearing of the New Jersey Assembly and Senate, stressing the importance of nuclear energy in New Jersey.
Produced by PSEG Power LLC