The New Jersey Board of Public Utilities approved an application process for the state’s zero-emission credit program established under legislation enacted in May to compensate the fuel diversity and zero-carbon attributes of nuclear power, according to a Nov. 19 press release. Nuclear plant operators applying for the credits must meet specific criteria including their contribution to air quality and anticipated closure within three years due to financial distress. The board also approved tariff revisions for electric utilities to implement rates for collection from their retail customers to fund the program. The law established a $300 million annual subsidy and set a rate of $0.004 per kilowatt-hour for qualifying plants. Nuclear power accounts for 39 percent of the state’s electricity generation. Applications are due by which ends Dec. 19 and a rank-ordered list of selected plants will be presented for approval at the board’s April 19, 2019 meeting.
