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It is owned by PSEG Nuclear LLC and Constellation Energy. In 2019, New Jersey began providing the state's nuclear plants Zero-Emission Certificates worth $300 million a year to keep them in service. The subsidy was ended in 2024, effective June 1, 2025, as the Inflation Reduction Act provides alternative tax credits to support clean energy. [2]
The Public Service Enterprise Group, Inc. (PSEG) is a publicly traded diversified energy company headquartered in Newark, New Jersey, US, established in 1985 with a legacy dating back to 1903. The company's largest subsidiary is Public Service Electric and Gas Company ( PSE&G ).
In 2009, PSEG applied for a 20-year license renewal, [3] which it received in 2011 to operate until 2046. [4] With its combined output of 3,572 megawatts, the Salem-Hope Creek complex is the largest nuclear generating facility in the Eastern United States and the second largest nationwide, after the Palo Verde Nuclear Generating Station in Arizona.
Peach Bottom is currently operated by Constellation Energy (formerly a division of PECO's parent company, Exelon, and before that it was known as Baltimore Gas and Electric (BG&E), the oldest gas utility in the country) and is jointly owned by Constellation (50%) and Public Service Enterprise Group (PSEG) Power LLC (formerly Public Service ...
There are two nuclear power stations in New Jersey both operated by PSEG Nuclear. [6] The Oyster Creek Nuclear Generating Station in Lacey Township, owned and operated by Oyster Creek Environmental Protection, permanently ceased operations on September 17, 2018.
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The Long Island Power Authority is the owner of the system and holder of its debt. On July 29, 2013 the state legislature passed a law implementing Governor Cuomo's plan. On January 1, 2014 PSEG rebranded the LIPA system "PSEG Long Island", effectively removing the LIPA name from the public eye.
PSE&G operates three nuclear reactors in Lower Alloways Creek Township. Salem 1 and Salem 2 are pressurized water reactors at the Salem Nuclear Power Plant and the Hope Creek Nuclear Generating Station has one boiling water reactor. [20] Lower Alloways Creek Township is a dry town where alcohol cannot be sold legally. [21] [22]