file photo by Boyd Loving
TOM JOHNSON | MAY 1, 2017
Company head continues to sound drumbeat for nuclear subsidies, even though plants will remain profitable through 2019
Oyster Creek nuclear plant
The closing of nuclear power plants serving New Jersey could lead to higher electricity prices for consumers, according to Ralph Izzo, chairman, CEO, and president of Public Service Enterprise Group, the owner of the units.
Izzo, speaking Friday on a quarterly earnings call for the Newark energy company, continued the drumbeat of lobbying for incentives to subsidize the operation of the three units run by the company’s subsidiary, PSEG Power, in South Jersey.
“You cannot remove 40 percent of the supply without having an increase in prices in New Jersey,’’ Izzo said, in response to a question from a Wall Street analyst. “And that’s something New Jersey consumers should not like.’’