N.Y. regulators approve clean energy standard with nuclear subsidies

[WorldNews]

(Reuters) - New York state energy regulators on Monday approved a plan to pay several upstate nuclear power plants up to $965 million over two years to keep the reactors in service and meet the state's carbon reduction goals. The New York Public Service Commission (PSC) approved the proposed Clean Energy Standard, which requires that 50 percent of the state's power will come from clean and renewable sources of energy by 2030, including nuclear power. The subsidies are part of an effort to keep the nuclear reactors, which produce almost no emissions, operating at a time of low prices for power as well as for natural gas, an alternative generator fuel.

Continue reading...