Gov. Gavin Newsom proposes $1.4 billion loan to keep Diablo Canyon open

August 13, 2022


Gov. Gavin Newsom is proposing a $1.4 billion loan to PG&E to help the utility extend the life of the Diablo Canyon nuclear power plant in Avila Beach for five to 10 years, he announced on Friday.

Diablo Canyon, which produces 9% of the state’s electricity, is slated to close in 2025. The extension is “critical to ensure statewide energy system reliability” as the state moves away from fossil fuels, according to Newsom’s proposal.

California planned to produce all of its electricity from clean sources by 2045, but instead has had issues with rolling blackouts and power shortages.

“We are behind where we need to be in bringing our clean resources online to ensure that we can retire these resources,” said Ana Matosantos, cabinet secretary for Gov. Newsom.

Newsom’s proposal is now headed to the California Legislature for a decision.

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Political … Prez hopes would be dashed with brown or black outs. Hopefully we will get this energy transition right.

Literally billions of dollars are available from the federal government to decommission the Diablo Canyon nuclear power plant. There will be jobs for years as the decommissioning proceeds. It is imperative that our community make sure the decommissioning is done right. And everyone should remember there are millions of pounds of toxic radioactive waste being stored in vulnerable temporary facilities at Diablo Canyon, as we speak. Tons and tons more are added every year the plant is in operation.

In a rare display of rational thinking and leadership, Newsom makes the right call on energy supply for California.

Rare indeed!