California Gov. Gavin Newsom (D) this week signed a bill that would give Pacific Gas & Electric $400 million more to keep the Diablo Canyon Power Plant open for the rest of the decade.
Newsom signed the bill June 29, days after the state legislature passed it.
The funding, which Newsom proposed, is part of the state’s annual budget bill. The legislature initially rejected Newsom’s proposal to boost the nearly $1.5-billion loan the state gave the utility in 2022, but the governor got his way in a compromise budget unveiled last week.
California’s fiscal year begins July 1.
Pacific Gas & Electric (PG&E) has applied for a 20-year license extension with the Nuclear Regulatory Commission, though a state law passed in 2022 allows the utility to keep Diablo Canyon open only until 2030.
Diablo Canyon Unit 1’s license expires Nov. 2, 2024. Unit 2’s expires on Aug. 26 2025. The NRC has said it may not finish reviewing PG&E’s application for months after Unit 2’s license expires. The commission will let both reactors stay on at least until the federal agency finishes its review.
