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New York energy regulators on Monday approved a plan to pay several upstate nuclear power plants up to $965 million over two years to keep the reactors in service and meet the state’s carbon reduction goals.

The New York Public Service Commission (PSC) approved the proposed Clean Energy Standard, which requires that 50% of the state’s power will come from clean and renewable sources of energy by 2030, including nuclear power.

The subsidies are part of an effort to keep the nuclear reactors operating at a time of low prices for power as well as low prices for the alternative generator fuel natural gas.

Read Next: How New York Could Save the Nuclear Power Industry in the U.S.

Advertiser Disclosure

The purpose of this disclosure is to explain how we make money without charging you for our content.

Our mission is to help people at any stage of life make smart financial decisions through research, reporting, reviews, recommendations, and tools.

Earning your trust is essential to our success, and we believe transparency is critical to creating that trust. To that end, you should know that many or all of the companies featured here are partners who advertise with us.

Our content is free because our partners pay us a referral fee if you click on links or call any of the phone numbers on our site. If you choose to interact with the content on our site, we will likely receive compensation. If you don't, we will not be compensated. Ultimately the choice is yours.

Opinions are our own and our editors and staff writers are instructed to maintain editorial integrity, but compensation along with in-depth research will determine where, how, and in what order they appear on the page.

To find out more about our editorial process and how we make money, click here.

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