California seeks $1.4 billion to keep nuclear plant open

Robert Besser
16 Aug 2022, 01:37 GMT+10

California Governor Gavin Newsom is proposing to give a $1.4 billion government loan to extend the life of a nuclear power plant it operates by as much as a decade
The proposal aims to maintain electric supplies while moving away from fossil fuels, his office added
This is the latest in a series of measures adopted by California this year to reconsider its 2016 decision to retire the Diablo Canyon Power Plant by 2025

SACRAMENTO, California: California Governor Gavin Newsom is proposing to give a $1.4 billion government loan to extend the life of a nuclear power plant it operates by as much as a decade.

The proposal aims to maintain electric supplies while moving away from fossil fuels, his office added.

This is the latest in a series of measures adopted by California this year to reconsider its 2016 decision to retire the Diablo Canyon Power Plant by 2025.

By 2045, the state aims to produce all of its electricity from clean sources, but it has faced challenges during that transition, such as blackouts during a heatwave in 2020.

A spokesperson in his office said, "The Governor supports keeping all options on the table as we build out our plan to ensure reliable energy this summer and beyond."

The state's utility regulator would delay Diablo Canyon's retirement to between 2030 and 2035 under Newsom's proposed bill, which would also authorize a loan of up to $1.4 billion to Diablo Canyon owner PG&E.

Under a U.S. Department of Energy program worth $6 billion aimed at saving nuclear power plants scheduled to retire, PG&E is also applying for separate federal funds.

In an emailed statement, PG&E spokesperson Lynsey Paulo said, "We are proud of the role that DCPP plays in our state, and we stand ready to support should there be a change in state policy, to help ensure grid reliability for our customers and all Californians at the lowest possible cost."

As part of a plan to cut U.S. greenhouse gas emissions, the Biden administration has made efforts to restore the nuclear industry.

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Santa Barbara Post.

More Information

65 ℉

Fair in Santa Barbara

United States

Section

Mickey Moniak, Angels win series opener over A's

(Photo credit: Kiyoshi Mio-USA TODAY Sports) Mickey Moniak went 2-for-4 with a two-run homer and rookie right-hander Davis Daniel pitched ...

Asian Games: Sarabjot-Divya secure silver in mixed 10 m air rifle shooting team event

Hangzhou [China], September 30 (ANI): The Indian shooting duo of Sarabjot Singh and Divya Subbaraju secured a silver medal in ...

Astros keep pace with tight win over D-backs

(Photo credit: Rick Scuteri-USA TODAY Sports) Jose Abreu smacked a two-run double and fill-in starter Jose Urquidy pitched six scoreless ...

Robert Pattinson reveals "deep fear of humilation", read why

Los Angeles [US], September 30 (ANI): 'Twilight' star Robert Pattinson recently opened up about what factors he takes into consideration ...

Robert Pattinson reveales "deep fear of humilation", read why

Los Angeles [US], September 30 (ANI): 'Twilight' star Robert Pattinson recently opened up about what factors he takes into consideration ...

Cubs' postseason hopes take hit in 10-inning loss to Brewers

(Photo credit: Benny Sieu-USA TODAY Sports) Carlos Santana hit a walk-off double in the bottom of the 10th inning as ...

International

Section