New York Proposes Nuclear Subsidy Based on Social Cost of Carbon
The New York State Public Service Commission (NY PSC) has issued a proposal to subsidize nuclear power generating facilities that may otherwise be retired to preserve their zero-emission attributes as part of the state's Clean Energy Standard (CES). The subsidy program could prompt additional policy changes, especially in terms of market design, as retention of existing nuclear plants requires long-term financial viability, which in turn hinges on wholesale markets recognizing the benefits of nuclear power.
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