New Jersey Board of Public Utilities to hold hearings on zero emission credit program for nuclear plants

The New Jersey Board of Public Utilities (NJBPU) will host three public hearings on the state’s Zero Emissions Certificates (ZEC) program for nuclear power plants.

Governor Phil Murphy signed the ZEC legislation in May. Under the ZEC program, eligible nuclear power facilities that demonstrate a need would receive credits to maintain the state’s nuclear energy supply. Nuclear power plants currently provide nearly 40 percent of New Jersey’s nuclear electricity capacity.

“Nuclear power is an important piece of the state’s energy puzzle,” NJBPU President Joseph L. Fiordaliso said. “The Board and its staff take seriously the responsibility to analyze nuclear power plant financial information and applications and determine whether the credits are warranted.”

The public hearings will focus on the content of the ZEC application, the application process, the process for determining the eligibility of applicants and the ranking of any eligible nuclear power plants. The hearings will take place on Oct. 4 in Hackensack, Oct. 10 in Atlantic City, and Oct. 11 in New Brunswick.

NJBPU will create the ZEC program, including an application process for ZEC eligibility review and a mechanism for the state’s electric companies to buy ZECs from the selected power plants, by November 2018.

The Board will also conduct a second proceeding to determine which applicants are eligible to receive ZECs and to create a rank-ordered list of eligible plants. This proceeding will be completed by April 2019 and will include public input.