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PSEG Applauds BPU's Decision to Extend Zero Emission Certificates (ZECs) for an Additional Three Years to New Jersey's Nuclear Plants

·2 min read

NEWARK, N.J., April 27, 2021 /PRNewswire/ -- Today, the New Jersey Board of Public Utilities (BPU) unanimously voted to extend the Zero Emission Certificates (ZECs) for New Jersey's three nuclear power plants, Hope Creek and Salem 1 and 2, for an additional three years.

Public Service Enterprise Group (PSEG) is a publicly traded diversified energy company. Its operating subsidiaries are: PSEG Power, Public Service Electric and Gas Company (PSE&G) and PSEG Long Island.
Public Service Enterprise Group (PSEG) is a publicly traded diversified energy company. Its operating subsidiaries are: PSEG Power, Public Service Electric and Gas Company (PSE&G) and PSEG Long Island.

In 2018, the New Jersey Legislature and Gov. Phil Murphy enacted legislation that established a Zero Emission Certificate program to preserve nuclear plants that provide more than 90% of the state's carbon-free electricity. In the state's Energy Master Plan and the Department of Environmental Protection's Global Warming Response Act 80x50 report, New Jersey indicated its intent to preserve its carbon-free nuclear generating resources into the 2050s to meet its 100% clean energy goals.

PSEG stated: "We are pleased with the New Jersey Board of Public Utilities' unanimous decision to extend the ZECs at the current rate to help support New Jersey's largest supply of carbon-free electricity. The BPU's actions today helped the environment, saved jobs and avoided higher energy costs. We appreciate the BPU's detailed review and consideration of PSEG Nuclear's ZEC applications."

About PSEG
Public Service Enterprise Group Inc. (PSEG) (NYSE: PEG) is a publicly traded diversified energy company with approximately 13,000 employees. Headquartered in Newark, N.J., PSEG's principal operating subsidiaries are: Public Service Electric and Gas Co. (PSE&G), PSEG Power and PSEG Long Island. PSEG is a Fortune 500 company included in the S&P 500 Index and has been named to the Dow Jones Sustainability Index for North America for 13 consecutive years (https://corporate.pseg.com).

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From time to time, PSEG, PSE&G and PSEG Power release important information via postings on their corporate Investor Relations website at https://investor.pseg.com. Investors and other interested parties are encouraged to visit the Investor Relations website to review new postings. You can sign up for automatic email alerts regarding new postings at the bottom of the webpage at https://investor.pseg.com.

CONTACTS:


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Carlotta Chan

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Marijke.Shugrue@pseg.com

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SOURCE PSEG