A Nuclear Safety Net is Good for New Jersey

The cost of New Jersey losing nuclear would be 6 times the cost of preserving it.

Legislation being considered provides significant consumer protections – if the need goes away, the support goes away.

  • The owners of a plant must open their books to New Jersey regulators to demonstrate a financial need; that need will be re-certified every three years.
  • Payments to a plant would be offset by any direct or indirect support received through a federal or regional program to support nuclear.
  • Participating plants would be obligated to operate while receiving payments.

Nuclear power helps ensure the reliability of the grid.

  • Nuclear power produces nearly half of New Jersey’s electricity.
  • If the plants close, New Jersey will become almost totally reliant on one fuel source – like putting all of our eggs in one basket.
  • If the plants close, New Jersey will be at great risk of power disruptions from low-probability, high-impact events.

Nuclear is the foundation of New Jersey’s clean energy future.

  • Nuclear currently provides more than 90 percent of New Jersey’s clean energy.
  • Closing of the nuclear plants will be a huge step backward – increasing climate change gases by 14 million tons a year – equal to adding 3 million more cars to the road.

Nuclear is vital to New Jersey’s economy.

  • Close to 6,000 jobs depend on the two South Jersey nuclear plants.
  • Closing the plants would reduce New Jersey’s GDP by more than $800 million.
  • State tax revenues would decline by $37 million if the plants closed.

It is cheaper to preserve nuclear than to replace it.

  • Studies (Brattle report and IHS report) estimate the cost to consumers of closing the plants would be in excess of $400 million a year.
  • It will cost 40 percent more to replace the plants than to preserve them.

Produced by PSEG Power LLC