New York PSC approves 50% clean energy standard, nuclear subsidies

It seeks to get NY to 50 percent renewable electricity by the year 2030 – while also retaining the six nuclear reactors that now provide more 30 percent of the state’s electricity. The plan will be phased in over the next several years, with about 26 percent of the state powered by renewables by 2017 and 30 percent by 2021.

“Today’s vote helps officially cement New York’s status as a clean energy leader by properly valuing the carbon-free energy that existing nuclear power plants provide”, said Nuclear Matters leadership council member Carol Browner, a former Environmental Protection Agency administrator.

The clean energy standard also provides a mechanism for ratepayers to subsidize renewable power sources such as wind and solar. He noted that the 50% renewable mandate is a critical component in reducing New York’s greenhouse gas emissions by 40% (from 1990 levels) by 2030 and by 80% by 2050.

The Clean Energy Standard will cost less than $2 a month to the average residential customer’s bill.

The move, which fulfills a goal earlier set out by Gov. Andrew Cuomo, was lauded by environmental groups that say it puts the state in the forefront nationally of the clean energy movement.

“The tremendous economic benefits supported by nuclear generating facilities can not be overstated, and I’m pleased to see so many leaders from throughout Central and Northern New York lending their voices in support of the adoption of a CES that includes nuclear power, and in turn, boosts our state’s economy and protects the jobs of thousands of hardworking men and women”.

Entergy applauds the New York State Public Service Commission for its decision today that recognizes the substantial contribution New York’s nuclear power facilities make to the state’s clean air.

The plan provides subsidies for upstate nuclear power plants, promising almost $8 billion dollars over 12 years to Exelon Corporation, the nation’s largest nuclear energy company, for its two struggling nuclear plants in upstate NY and for a third it is proposing to buy – the FitzPatrick plant near Oswego, which Entergy announced it would close by 2017.

“New Yorkers are the big winners from the PSC’s very important decision to adopt the ZEC”, said Rob DiFrancesco, Director of New York AREA, a pro-nuclear energy group. CES adoption will bring numerous benefits to consumers, including a reduction in carbon and other harmful pollutants, and continued maintenance of fuel diversity.

“Maintaining our nuclear facilities is crucial to allowing our state to advance into a cleaner, greener future as we transition away from older, more polluting technologies”, she added. “The Clean Energy Standard aligns with the Governor’s directive to phase out coal power by 2020 and affirms New York’s position as a leader in combatting climate change”.

The fate of upstate New York’s nuclear power plants could be decided today.

Reaction to Monday’s vote by the Public Service Commission is mixed.

The measure is part of Governor Andrew Cuomo’s initiative to get half the state’s power from renewable sources by 2030. Exelon operates two other upstate nuclear plants-R.E. Ginna in Ontario and Nine Mile Point in Oswego-that will benefit as a result of the Clean Energy Standard subsidies.