NY lawmakers question cost of state's nuclear bailout

By The Associated Press

Lawmakers are questioning the cost and motives of New York Gov. Andrew Cuomo's plan to bail out three aging upstate nuclear reactors.

 

ALBANY, N.Y. (AP) — Lawmakers are questioning the cost and motives of New York Gov. Andrew Cuomo's plan to bail out three aging upstate nuclear reactors.

Members of the Assembly used a legislative hearing on the subsidies Monday to question state energy officials about the need for the state subsidies, which will cost ratepayers up to $7.6 billion over 12 years.

Cuomo, a Democrat, says the money will ensure the plants continue to operate and prevent greater reliance on fossil fuels as the state shifts to renewable energy.

At Monday's hearing state officials said that while $7.6 billion is the top estimate, the subsidies are likely to cost energy consumers far less as the plan proceeds.

Projections now indicate the average electricity consumer will pay about $2 more per month.

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