April 12, 2018 / 8:54 PM / a year ago

New Jersey Senate passes nuclear subsidy bill - source

April 12 (Reuters) - New Jersey Senate on Thursday passed a bill that would cost about $300 million a year to subsidize three nuclear reactors operated by New Jersey power company Public Service Enterprise Group Inc, a source familiar with the development said.

“The bill passed the New Jersey Senate by a vote of 29-7. ... We are awaiting action in the assembly,” the source said.

PSEG had said it could shut the reactors - two at Salem and one at Hope Creek - in a couple of years if they do not receive some sort of federal or state assistance. (Reporting by Nallur Sethuraman in Bengaluru; Editing by Richard Chang)

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