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BPU sets 2025 ZEC price at $10/MWh; orders Salem units to reimburse $359,831 for metering errors
Summary
The board fixed the zero‑emission certificate price for energy year 2025 at $10 per megawatt‑hour and ordered Salem Unit 1 and Unit 2 to reimburse electric distribution companies $359,831 after PSEG identified incorrect meter readings from 2019–2023.
Pursuant to the ZEC Act, BPU staff on Aug. 13 calculated the zero‑emission certificate (ZEC) price for energy year 2025 at $10 per megawatt‑hour, using the statutory formula. Staff also reported that PSEG discovered meter measurement issues at Salem Unit 1 and Unit 2 leading to minor incorrect readings from energy years 2019–2023, which produced an overpayment of ZECs to the plants. Staff calculated the aggregate overpayment at $359,831 and recommended that Salem Unit 1 and Unit 2 reimburse the electric distribution companies for that amount.
The board voted to adopt staff’s recommendation to set the ZEC price at $10/MWh for 2025 and to order the Salem units to reimburse $359,831 to the EDCs.
Staff characterized the overall impact as small and identified the statutory pricing formula as the basis for the ZEC calculation.
