Newsroom & Public Notices
NJBPU Approves Zero Emission Credit Program and Application Process for Nuclear Power Plants
| For Immediate Release: | Contact: Peter Peretzman |
| Date: 11/19/2018 | 609-984-9707 |
Today’s action by the Board formally approves the ZEC application and review process, and immediately opens the application window which will close on December 19. The thorough and extensive application process requires that nuclear generating stations applying for ZECs demonstrate a clear need for these credits, ensuring ratepayer funding is allocated appropriately.
In its application review, the Board will determine the eligibility of any of the nuclear generating stations applying for ZECs, and will establish a rank-ordered list of the nuclear plants selected to receive ZECs per the law. A list of those eligible to receive ZECs, including their ranking, will be presented to the Board for approval at its April 19, 2019 agenda meeting. Only those nuclear generating facilities which have sufficiently demonstrated a need for ZECs will receive the credits.
“Nuclear power is an important part of the state’s carbon-free energy blueprint,” said NJBPU President Joseph L. Fiordaliso. “As we review and rank applications we will carefully analyze all of the information presented to us by applicants to determine whether credits should be awarded.”
To determine eligibility, applicants must answer questions and provide supporting documents, studies, certifications, and/or narratives. Additionally, each unit must:
- Be licensed by the U.S. Nuclear Regulatory Commission through 2030;
- Demonstrate a significant and material contribution to New Jersey air quality (minimizing emissions);
- Demonstrate anticipated plant shutdown within three years due to its financial situation; and
- Certify that the facility does not receive any subsidies from other entities or agencies.
Two teams will evaluate the ZEC program application requirements to ensure consistency with the applicable law. The first team will conduct an initial review, and if eligible, provide the application to the second team for ranking, scoring, and comparison.
The Board today also approved the Tariff modifications to implement a rate for collection by the Electric Utilities for the ZEC funding, as prescribed in the law. The rate will be $0.004 per kilowatt-hour, but collection of the tariff charge will start only if a nuclear plant is deemed eligible.
About the New Jersey Board of Public Utilities (NJBPU)
The NJBPU is a state agency and regulatory authority mandated to ensure safe, adequate and proper utility services at reasonable rates for New Jersey customers. Critical services regulated by the NJBPU include natural gas, electricity, water, wastewater, telecommunications and cable television. The Board has general oversight and responsibility for monitoring utility service, responding to consumer complaints, and investigating utility accidents.
To find out more about the NJBPU, visit our web site at www.nj.gov/bpu.
About the New Jersey Clean Energy Program (NJCEP)
NJCEP, established on January 22, 2003, in accordance with the Electric Discount and Energy Competition Act (EDECA), provides financial and other incentives to the State's residential customers, businesses and schools that install high-efficiency or renewable energy technologies, thereby reducing energy usage, lowering customers' energy bills and reducing environmental impacts. The program is authorized and overseen by the New Jersey Board of Public Utilities (NJBPU), and its website is www.NJCleanEnergy.com.
