Upstate Energy Jobs Coalition Applauds PSC for Proposal to Support Upstate Nuclear Power Plants in Clean Energy Standard

The Upstate Energy Jobs Coalition (UEJ), a group including elected
representatives, business leaders, organized labor, education
institutions, economic development organizations and community leaders,
today voiced their support for the New York Public Service Commission’s
(PSC) latest responsive proposal detailing the nuclear provision within
the Clean Energy Standard (CES), a measure introduced by Governor Andrew
Cuomo that mandates 50 percent of all electricity consumed in New York
by 2030 come from clean and renewable energy sources. The PSC proposal,
issued on July 8^th, properly values upstate nuclear plants
for their contributions to the state’s clean energy goals.

“Governor Cuomo and the PSC deserve to be recognized for issuing a
proposal that would keep our upstate nuclear energy plants open, and in
doing so, allow the state to meet its clean energy goals,” said L.
Michael Treadwell, CEO of The County of Oswego Industrial Development
Agency. “The PSC’s findings are in line with the independent findings of
the Brattle Group and the Navigant Group that affirm that the value of
keeping New York’s upstate nuclear plants operating is substantial and
far outweighs any costs associated with the program. In fact, upstate
nuclear plant operators will also be investing $700 million in these
plants between now and May of next year. There is no doubt that in
issuing the CES, we would not only be satisfying the state’s clean
energy goals, but also the goal of supporting the upstate economy. We
therefore urge the timely implementation of the CES to ensure that our
upstate nuclear plants are preserved today in order to meet our clean
energy and economic goals of tomorrow.”

The PSC proposal highlights that as a result of keeping upstate nuclear
plants open through the CES, the state will avoid 15.5 million tons of
carbon dioxide emissions annually, and retain 2,600 highly qualified
upstate jobs. PSC staff found that the “benefits of paying for the
zero-emission attributes far exceed the costs.” A PSC press release from
July 8^th also notes the overwhelming benefit of keeping these
plants open, stating that “Staff estimates that investing $965 million
in the first two years of the program for the carbon value of the
nuclear units, electric customers and the State will realize $5 billion
in benefit” for a net benefit of $4 billion.

A Brattle Group report
from December 2015 also finds that upstate nuclear plants help save New
Yorkers $1.7 billion in electricity bill costs each year.

Finally, an additional analysis
by the Brattle Group finds that in the early years that the CES (up
until 2023) is implemented, over 75% of the carbon avoided by the
program is directly attributable to preserving upstate nuclear. The
component, which would preserve upstate nuclear, called Tier 3, is
responsible for over 50% of the CES program’s lifetime financial
benefits from carbon avoidance, despite incurring only 21% of the
program’s overall costs. The report also found that from the standpoint
of ratepayer costs, the benefits of keeping electricity prices low are
36 times greater than the program costs to support the upstate nuclear
plants.

About Upstate Energy Jobs Coalition

Upstate Energy Jobs (UEJ) is a growing coalition of more than 130
upstate New York elected representatives, business leaders, members of
organized labor, education institutions, economic development
organizations and community leaders who are leading efforts to raise
awareness among policymakers of the importance of keeping upstate New
York’s nuclear energy plants open. For more information or to voice
support for preserving the region’s economic and environmental security,
go to upstateenergyjobs.com.

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