Exelon, PSEG Nuclear Win Full Subsidies in NJ State Court Fight

Three New Jersey nuclear power plants preserved their full nuclear subsidy, worth hundreds of millions of dollars, with a state court win Monday.

Public Service Electric Group and Exelon Generation Company, LLC will keep their roughly $300 million in public subsidies because state regulators properly found that the companies couldn’t compete in the electricity market without it, the New Jersey Superior Court Appellate Division ruled. That breaks down to a $10 per megawatt-hour subsidy for the Salem 1, Salem 2 and Hope Creek facilities.

The decision was a win for agency deference and a blow to ...