SOUTH JERSEY (KYW Newsradio) — New Jersey Gov. Mikie Sherrill signed a new bill into law on Monday that sets the framework for future construction of nuclear power plants and makes sure ratepayers aren’t on the hook for construction costs.
With 40% of New Jersey’s power coming from nuclear generation, and with demand only increasing, Sherrill said it’s important to proceed responsibly with the next generation of nuclear power in the Garden State.
“We’re making sure we do right by our ratepayers every step of the way,” she assured. “We’ve studied what’s worked and what hasn’t in states like Georgia and Tennessee that built nuclear plants in the recent past. Now, we’re ready to build smarter.”
She said the key is to make the energy companies secure funding before construction begins, so ratepayers don’t have to pay for anything until the plant is actually operating and supplying power.
“And they’ll never be on the hook for construction cost overruns,” Sherrill added.
Lower Alloways Creek in Salem County is one of just six sites in the country with federal approval for future construction. Once that plant is complete, it will help drive down costs, provide the clean energy the state needs, and power the jobs of the future.
Sherrill said she looks forward to seeing this project continue advancing through the long process.
