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My Governor Signs Procurement Authorization for New Nuclear Construction.
Some news from my state on yet another summer day with extreme heat and the skies obscured by smoke from massive wild fires.
New Jersey launches procurement process for new nuclear
New Jersey Governor Mikie Sherrill has signed the Power NJ Act, which creates a competitive framework for the US state to procure at least 1,100 MW of new nuclear generation.
In April, Governor Sherrill signed legislation to remove the permitting hurdle that has created what has effectively been a 50-year moratorium on new nuclear development in New Jersey and announced the launch of the state's new Nuclear Task Force.
On Monday, she signed the Power NJ Act, launching the state's procurement process for new nuclear energy. The bill will establish a transparent, competitive process by the New Jersey Board of Public Utilities and the New Jersey Economic Development Authority to evaluate proposals and ensure any project is the best investment for New Jersey ratepayers. The bill passed both houses of the legislature unanimously last month with strong bipartisan support.
Under the legislation, within 180 days (by 9 January 2027), the New Jersey Board of Public Utilities will open a request for expressions of interest. Developers will then have 60 days to submit proposals with regulatory, environmental, financial, and workforce information. New Jersey Board of Public Utilities then has 90 days (until 9 April 2027) to qualify projects to enter the negotiation period or deny them. Over the following 12 months (until 9 April 2028), the New Jersey Board of Public Utilities and the New Jersey Economic Development Authority will negotiate with project entities, including setting accurate cost estimates, price of electricity, and other terms. Over the following 90 days (before 8 July 2028), the New Jersey Board of Public Utilities will issue a Final Board Order if a project provides a net benefit to ratepayers, costs are not unreasonable or excessive in light of customers' overall bills, and the developer has secured federal financing...
In April, Governor Sherrill signed legislation to remove the permitting hurdle that has created what has effectively been a 50-year moratorium on new nuclear development in New Jersey and announced the launch of the state's new Nuclear Task Force.
On Monday, she signed the Power NJ Act, launching the state's procurement process for new nuclear energy. The bill will establish a transparent, competitive process by the New Jersey Board of Public Utilities and the New Jersey Economic Development Authority to evaluate proposals and ensure any project is the best investment for New Jersey ratepayers. The bill passed both houses of the legislature unanimously last month with strong bipartisan support.
Under the legislation, within 180 days (by 9 January 2027), the New Jersey Board of Public Utilities will open a request for expressions of interest. Developers will then have 60 days to submit proposals with regulatory, environmental, financial, and workforce information. New Jersey Board of Public Utilities then has 90 days (until 9 April 2027) to qualify projects to enter the negotiation period or deny them. Over the following 12 months (until 9 April 2028), the New Jersey Board of Public Utilities and the New Jersey Economic Development Authority will negotiate with project entities, including setting accurate cost estimates, price of electricity, and other terms. Over the following 90 days (before 8 July 2028), the New Jersey Board of Public Utilities will issue a Final Board Order if a project provides a net benefit to ratepayers, costs are not unreasonable or excessive in light of customers' overall bills, and the developer has secured federal financing...
It's a policy bill that passed unanimously; one doesn't see that sort of thing anymore.
What we really need is a fuel reprocessing site in New Jersey, since we have lots of valuable used nuclear fuel from our existing and mothballed reactors. The Oyster Creek site would be a wonderful place to build a replacement reactor or several replacement reactors.
I love my Governor. It's the happiest vote for Governor that I've made in my lifetime, really. I cannot consider a Governor in any State in which I lived who was quite so wonderful, New York, California and New Jersey. The best Governor here since Jim Florio certainly, although I didn't get to vote for Florio when he was elected, although I did vote for his reelection but he lost to the appalling Christine Todd Whitman.