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PSEG to retire two New Jersey coal plants next year

Staff Writer | October 5, 2016
PSEG said that its Hudson Generation Station in Jersey City, N.J., and its Mercer Generation Station in Hamilton Township, N.J., will be retired on June 1, 2017.
Hudson Generation Station
Energy   PSEG remains committed to New Jersey
“The sustained low prices of natural gas have put economic pressure on these plants for some time. In that context, we could not justify the significant investment required to upgrade these plants to meet the new reliability standards,” said Bill Levis, president and chief operating officer-PSEG Power.

“The plants have been infrequently called on to run and neither plant cleared the last two PJM capacity auctions. The plants’ capacity payments have been critical to their profitability and PSEG’s ability to continue to invest in modernizing them.”

PSEG stressed that it is committed to treating the approximately 200 employees at Hudson and Mercer fairly during the process of retiring the existing units.

PSEG remains committed to meeting the long-term energy needs of New Jersey and the region and currently is investing more than $600 million in a new state-of-the-art combined-cycled gas plant in Sewaren, N.J., as well as new plants in Connecticut and Maryland.

Currently, PSEG Power has gas facilities representing nearly 4,000 MWs of generating capacity in New Jersey and owns 3,740 MWs of nuclear generation, of which approximately 2,500 MWs are located in New Jersey.


 

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