New Jersey takes key step toward affordable, reliable, clean power with Power NJ Act
Governor Mikie Sherril recently signed the bipartisan Powering Opportunity, Workforce, and Energy Reliability for New Jersey Act (Power NJ Act), which will establish a program for procuring nuclear energy and create a framework to ensure projects are designed to meet growing electricity demand and enhance grid reliability while protecting ratepayers. The bill passed with unanimous support.
“The Power NJ Act will help build the abundant, reliable, and affordable energy grid of tomorrow while putting our tradespeople and engineers to work on new supply chains and critical projects,” said John Carlson, Senior Northeast Regional Policy Manager at Clean Air Task Force (CATF). “Nuclear energy is one important part of a broader set of solutions New Jersey needs, and it will not solve today’s electricity challenges overnight nor alone. But by starting now, the state can take advantage of nuclear power’s clean, firm attributes to build a less expensive power system with diverse resources. This legislation creates a thoughtful foundation that keeps public interest at the forefront and protects ratepayers. It also leverages private capital to bring new resources online, grow a skilled workforce, expand the state’s nuclear supply chain, and position the Garden State as a leader in meeting rising electricity demand with clean, firm energy.”
“The Power NJ Act addresses key barriers so nuclear energy can contribute to a broader electricity portfolio to supply economic and load growth and achieve climate targets in New Jersey,” said Kasparas Spokas, Electricity Program Director at CATF. “The act also creates a mechanism for private offtakers to buy into nuclear projects, which helps unlock private capital and reduce near-term costs for ratepayers. With strong regulatory oversight, the Power NJ Act offers a practical pathway to responsibly develop new nuclear generation, strengthen the state’s workforce and supply chain, and position New Jersey to lead nuclear energy development.”
Press Contact
Samantha Sadowski, Senior Communications Manager, U.S., ssadowski@catf.us, +1 202-440-1717
About Clean Air Task Force
Clean Air Task Force (CATF) is a global nonprofit organization working to safeguard against the worst impacts of climate change by catalyzing the rapid development and deployment of low-carbon energy and other climate-protecting technologies. With 30 years of internationally recognized expertise on climate policy and a fierce commitment to exploring all potential solutions, CATF is a pragmatic, non-ideological advocacy group with the bold ideas needed to address climate change. CATF has offices in Boston, Washington D.C., and Brussels, with staff working virtually around the world. Visit catf.us and follow @cleanaircatf.
