Competition drives nuclear industry to look for millions in subsidies
As reported by Steven Mufson in the Washington Post.
The article quotes Tim Judson of NIRS:
“There is no doubt that renewables have also received financial supports, through tax and investment credits, etc.,” Tim Judson, of the Nuclear Information Research Service, said in an email. “But the federal incentives have been far less consistent and are phasing out, whereas supports for nuclear are perpetual and now increasing.”
Judson said, “What we are debating now is whether old, uneconomical generators should be subsidized when new technology has become more viable.”
Jeff Tittel of Sierra Club was also quoted:
Jeff Tittel, director of the New Jersey Sierra Club, argued that there was little justification for the subsidy. PSEG earned $1.6 billion last year and has a market value of $26 billion. It recently boosted its dividend by 4.7 percent.
“The utility has not been able to prove [its] need for the subsidy in the first place,” he said. “This is a huge giveaway to PSEG at the expense of the ratepayers and environment of New Jersey.”
Nora Brownell, who was a commissioner at the Federal Energy Regulatory Commission under President George W. Bush, was also quoted:
When it comes to nuclear power, “we need a new model without putting an extraordinary hidden tax on ratepayers,” said Nora Brownell, who was a commissioner at the Federal Energy Regulatory Commission under President George W. Bush. She called the New Jersey move “uneconomic, unfair and unrealistic” and said “it will totally screw up [electricity] markets.” Brownell, who has her own consulting firm, said the New Jersey plan is “greed disguised as green.”
May 24, 2018