Gov. Sherrill signs bill to lure more nuclear energy companies to New Jersey
Gov. Sherrill want to draw in more nuclear energy providers as a way to lower overall electric rates for New Jersey homeowners.
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Gov. Mikie Sherrill promised New Jersey voters relief from high electric bills upon taking office, and she’s pushing this summer to make good on her word.
She signed a bill Monday to create a way for more nuclear energy companies to move in.
In signing the bill called the “Power New Jersey Act,” Sherrill is creating a way for more competition.
That added power supply from nuclear providers could eventually reduce electric rates for New Jersey homeowners.
There are three reactors in southern New Jersey, which produce 40% of the state’s power. The bill signing takes advantage of a decision in April to lift the moratorium on additional nuclear power in the state.
“This bill creates a competitive process to build new nuclear projects that can power hundreds of thousands of homes," said Sherrill.
Sherrill says that any nuclear energy company that wants to build in New Jersey would have to secure federal funding, approval from the state Board of Public Utilities and prove its benefit before breaking ground.
