Residents across the state will see their electric bills increase by at least $2 a month under what many are calling one of the largest corporate bailouts in the state in order to help fund three struggling upstate nuclear power plants, according to lohud.com.
The state plan, which provides billions over 12 years to the plants located in towns desperate to hold on to the jobs and property taxes they generate, will be paid for by residents across the state who don't benefit from any power from the plants, said lohud.com.
The three plants, the James A. FitzPatrick and Nine Mile Point nuclear plants in Oswego County and the R.E. Ginna plant near Rochester, can't provide power across the state, including lower New York where most of the people live, due to constraints on transmission lines, added lohud.com.
To make that happen, officials said it would take a huge investment. Indian Point does not qualify for the subsidies because it is profitable, said lohud.com.
Locally, groups such as the Hudson River Sloop Clearwater and the New York Public Interest Research Group are also working on a petition to prevent what they call "The Cuomo Tax," from happening, reported lohud.com.
If approved, residents could see increases to their power bills by the middle of next year, added lohud.com.
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