In a decision that seemed almost inevitable, state regulators on Thursday agreed that New York utility customers will pay billions of dollars in subsidies to ensure that four Upstate nuclear reactors continue to supply much-needed electricity for two decades to come.
The state Public Service Commission voted 6-0 to extend the current nuclear subsidy program for another 20 years beyond the original end date of 2029.
The cost to ratepayers could be as high as $33 billion over 20 years – “staggering,” in the words of New York City officials who opposed the deal…