Governor Kathy Hochul has announced that New Yorkers are projected to save $151 million on their energy bills by 2026 through the State’s Zero-Emissions Credits (ZEC) program. According to the Governor’s office, this decrease in energy costs is linked to keeping key nuclear power plants operational without emissions. Governor Hochul stated that ensuring "energy affordability for New York consumers" and that "the lights stay on" remain priorities.
The ZEC program, established by the New York State Public Service Commission in 2016, recognizes the four Upstate nuclear power plants for their zero-emission contributions. Following the 2022 federal nuclear production tax credit, any resulting benefits are required to be passed on to ratepayers. Constellation Energy, which operates the reactors at three facilities along the shores of Lake Ontario, will utilize the federal tax credit, leading to savings for the state’s electricity consumers and an increase in clean electricity production, according to a statement obtained by the Governor’s office.
Rory M. Christian, Chair of the New York State Public Service Commission, said that the ZEC program provides flexibility and that federal support contributes to New York’s energy stability while offering financial relief to residents. Doreen M. Harris, President and CEO of the New York State Energy Research and Development Authority, stated that a balanced energy mix, which includes the existing nuclear fleet and federal tax credits, supports energy security and affordability. She also noted that these savings are relevant to the development of advanced nuclear technologies.
This financial update is part of a broader strategy by Governor Hochul’s administration to support energy affordability. The administration has implemented an Enhanced Energy Affordability Policy, redirected surplus funding to consumer protection programs, and adjusted plans for offshore wind transmission development in response to federal policy changes. These efforts are complemented by initiatives to expand participation in energy efficiency programs, particularly for low- and moderate-income households, which will receive an additional $132 million in annual funding, as reported by the Governor’s office.
Governor Hochul has implemented consumer protection measures, including a comprehensive audit to ensure utilities are providing value to ratepayers, stricter performance standards with enforcement authority, and the recovery of approximately $214.4 million from utility shareholders for ratepayer benefit since 2021.
