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The New Jersey Petroleum Council Urges Lawmakers to Protect Consumers by Rejecting 'Unfair' Subsidies for Nuclear Plants

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Statement from Jim Benton--the New Jersey Petroleum Council's executive director--in:
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(59 seconds)


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(BENTON):
"NEW JERSEY'S LAWMAKERS HAVE A CHOICE, RIGHT NOW, BETWEEN EITHER PROTECTING CONSUMERS FROM POSSIBLE SPIKES IN ELECTRICITY-PRICES--OR, INSTEAD, PROVIDING SUBSIDIES TO NUCLEAR PLANTS, IN ORDER TO BOOST THEIR PROFITS.  THAT'S BECAUSE PROVIDING SUBSIDIES FOR NUCLEAR PLANTS WOULD DISTORT THE COMPETITIVE MARKETS THAT HAVE ALLOWED NATURAL GAS TO PROVIDE AFFORDABLE AND RELIABLE POWER--TO HOMES AND BUSINESSES ALIKE.  INDEED, OUR LATEST POLL FINDS THAT OVER TWO-THIRDS OF NEW JERSEY VOTERS OPPOSE THE LEGISLATURE GIVING SUBSIDIES TO NUCLEAR-POWER PLANTS--AND THAT THIS OPPOSITION IS WIDELY BIPARTISAN.  WE ALSO BELIEVE THAT RUSHING TO CONSIDER MAJOR POTENTIAL LEGISLATION BEFORE THE LEGISLATURE ADJOURNS FOR THE YEAR SETS A DANGEROUS PRECEDENT.  LAWMAKERS SHOULD REJECT THESE EFFORTS TO PROVIDE SUBSIDIES TO NUCLEAR PLANTS--WHICH WOULD FORCE CONSUMERS TO SHOULDER THE ADDITIONAL COSTS FOR NEW JERSEY'S NUCLEAR-POWER PLANTS."



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