The state Public Service Commission approved the proposal at a Monday meeting in Albany, saying that keeping the plants open is essential to curbing greenhouse gas emissions while the state pursues its renewable energy targets.
Advertisement
The commission also approved a system of renewable energy credits to subsidize new or expanded power generators using solar, wind, hydro, biomass or tidal energy, as well as fuel cells.
While many environmental groups cheer policy, some oppose what they call a costly and unnecessary investment in nuclear power.
The mandate will add less than $2 per month to the average residential customer’s bill, according to a statement.
The $8 billion subsidy for nuclear power is twice the amount estimated to be invested in renewable energy through the Clean Energy Standard, said Tim Judson, Executive Director of the Nuclear Information and Resource Service.
The PSC will work with New York State Energy Research and Development Authority (NYSERDA) and stakeholders to develop standards that could be used to create a New York-certified clean electric product. NY now generates roughly a quarter of its energy from renewable sources. But they said that also won’t happen without the credits.
“New York has taken bold action to become a national leader in the clean energy economy and is taking concrete, cost-effective steps today to safeguard this state’s environment for decades to come”, Governor Cuomo said. Zibelman said the energy lost would nearly certainly be replaced by fossil-fired, carbon producing power plants. Our communities across upstate and central NY, areas that are already struggling economically, simply could not afford to have these plants close, and we are grateful to be able to continue to rely upon these plants for all of their contributions.
The Department of Public Service has documented that the ZEC will preserve $1.7 billion in annual economic benefits for NY, including thousands of jobs and large local, regional and state tax payments. This means New Yorkers will no longer be able to choose 100 percent green energy, even if they want to.
Advertisement
Maintaining zero-emission nuclear power is a critical element to achieving New York’s ambitious climate goals. The standard would direct about $965 billion to the plants over the first two years, using a formula based on expected power costs and the social price on carbon federal government agencies use in rulemaking.
