Bill to help New Jersey's nuclear power plants advances
TRENTON, N.J. (AP) — New Jersey lawmakers advanced a roughly $300 million bill that would raise ratepayer rates in order to rescue the state's nuclear power industry from financial ruin.
An Assembly and Senate joint committee on Wednesday approved legislation after an hours-long hearing during this year's lame-duck session.
The proposal has the support of the state's biggest utility, PSEG, which has lobbied for the package.
Environmental and consumer groups as well as industrial ratepayers have balked at the proposal.
Estimates on the cost to New Jersey's ratepayers range from $31 to $41 in higher annual bills. PSEG estimates the overall cost of the bill at about $280 million.