Diablo Canyon boosts local economy by nearly $1 billion, PG&E says

October 17, 2013

By JOSH FRIEDMAN

The Diablo Canyon Nuclear Power Plant contributes approximately $920 million annually to the economies of San Luis Obispo and northern Santa Barbara Counties, according to a report commissioned by the Pacific Gas and Electric Company.

PG&E submitted the report, authored by the Nuclear Energy Institute and Cal Poly’s Orfalea College of Business, to the San Luis Obispo County Board of Supervisors Tuesday. The county is considering the impact that a closure of Diablo Canyon would have on the local economy.

Supervisor Adam Hill, whose district includes Diablo Canyon, said it is inevitable that the power plant will close at some point in the future.

“There is an inevitable transition in our economy at some point with the closing of Diablo Canyon, whenever that occurs,” Hill said. “But, the only way that you can actually plan for it is basically to continue to strengthen your economy now.”

Diablo Canyon is licensed through 2025, but it must gain approval from the Nuclear Regulatory Commission to operate the plant beyond then. PG&E is seeking a 20-year extension to its license.

With the permanent closure of the San Onofre plant earlier this year, Diablo Canyon is the only operating nuclear power plant in California.

The Nuclear Energy Institute and Cal Poly report states that Diablo Canyon generates 22 percent of the electricity that PG&E supplies across the state.

The plant also generates $25.4 million in tax revenue for local government agencies, $6.7 million of which goes to the county general fund. $9.2 million of Diablo Canyon’s taxes go to the San Luis Coastal Unified School District, accounting for about 12 percent of the district’s budget.

Diablo Canyon is the largest private employer in the county. The plant employs 1,543 employees statewide, 1,483 of whom live in San Luis Obispo County.