New York's Public Service Commission launched a groundbreaking Clean Energy Standard as part of its strategy to rescue failing nuclear power plants in the state. This plan will subsidise struggling power plants to the tune of several billion dollars, throwing a lifeline to the beleaguered industry that has been hit by low cost electricity from natural gas plants. The new standard is expected to be implemented over three years, with an initial phase starting this year. US taxpayers will subsidise the continuing operation of three to four nuclear power plants through to 2029 at a cost of $7.6bn. This approach will help the state to achieve its clean-energy targets.
New York's Public Service Commission launched a groundbreaking Clean Energy Standard as part of its strategy to rescue failing nuclear power plants in the state. This plan will subsidise struggling power plants to the tune of several billion dollars, throwing a lifeline to the beleaguered industry that has been hit by low cost electricity from natural gas plants. In addition, nuclear plants are under threat from a growing interest in renewable technologies such as solar, wind and wave. US taxpayers will subsidise the continuing operation of three to four nuclear power plants through to 2029 at a cost of $7.6bn. This approach will help the state to achieve its clean-energy targets.