NJ Utility Companies Opposed To New Power Plants
TRENTON (CBS) - New Jersey Governor Chris Christie is expected to sign a measure that could lead to construction of three new power plants in the state, including one in West Deptford. It’s got the utility industry crying foul and ready the challenge the plan.
It’s about competition and the cost of making enough electricity available within the state. Companies that build the plants would be eligible for subsidies if capacity prices fall below levels set by state regulators, the subsidies to be funded by other utilities.
Senate president Steve Sweeney would see one of the proposed plants built in his district.
“The ratepayer advocate, that’s the person that’s supposed to look out for the ratepayers — you and I — is saying that each one of these plants that’s being proposed will save $300 million to the ratepayer.”
But uitilities counter that any savings will be short lived and will stifle, not increase competition. They suggest, if Christie approves the plan they’ll challenge it before federal regulators and maybe in court.
Reported by David Madden, KYW Newsradio