Initiative could shut down Diablo Canyon nuclear plant
November 26, 2011
A California ballot initiative proposed for next fall would force Diablo Canyon and San Onofre nuclear power plants to immediately shut down causing electric rates to skyrocket, rolling blackouts, and billions of dollars in economic losses each year, according to a recent report by the Legislative Analyst’s Office.
The two nuclear power plants provide 16 percent of the state’s electricity, the report says.
The Nuclear Waste Act of 2012 would prohibit the generation of nuclear power in the state until the federal government approves a site for the permanent disposal of high-level nuclear waste and a nuclear fuel rod reprocessing plant is in operation.
Fiscal impacts of the rolling blackouts would include reduced productivity and loss of jobs, the report says. In addition, the state could be liable for more than $4 billion if the plants are permanently closed because of the utilities ability to recover capital investments under current law.
Ben Davis Jr. of Santa Cruz, proposed the initiative which was approved for signature-gathering last week.
To qualify for the November 2012 ballot, supporters of the initiative need to collect 504,760 signatures by April 16, according to the California secretary of state.