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Cuomo proposes nuclear power subsidies

Jul 14, 2016 12:02 am
Scott Waldman reports in Politico New York that Gov. Andrew Cuomo's administration proposed July 8 giving away $1 billion in a nuclear subsidy program which proponents say is a smart way to keep the air clean, but opponents say is a bailout to a dangerous, dying industry. "Either way, it will lead to higher utility bills for consumers," Waldman writes, and the state will need less natural gas in the near term, if the plan is implemented. The proposal will specifically benefit the Exelon Corporation, which said it would shut down one of the two reactors at Nine Mile Point in Oswego County and its Ginna facility in Wayne County if New York did not provide the subsidies. Waldman reports Exelon has spent $430,000 on lobbying in New York in the last two years. The Public Service Commission could consider the proposal next month. Read the full story in Politico New York.