The New York State Public Service Commission has extended a 2025 zero-emissions credit (ZEC) programme until 2049, which will provide the financing necessary for its nuclear plants to continue operating until that time.
In a statement, New York’s Department of Public Services said that the ZEC programme was one of the most cost-effective ways to retain energy resources with low emissions and ensure that its nuclear power stations continue to operate safely in to the future. ZEC programme are designed to compensate certain nuclear power units for production of zero carbon electricity.
The commission said the programme provides the plants with sufficient funding beyond what they can earn in the markets and from federal tax credits.
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