PG&E applied to extend the life of the Diablo Canyon nuclear plant in California (NYSE: PCG)
PG&E (NYSE:PCG) formally asked US regulators on Monday Extend the life of Diablo Canyonthe last operating nuclear plant in California, Sacramento Bee reported.
The utility says it has applied to the US Nuclear Regulatory Commission for an extension Diablo Canyon permits and postpones planned 2025 closure of the plant, which provides ~9% of California’s electric power.
Governor Gavin Newsom reversed his earlier objection to extending Diablo Canyon’s life when he signed legislation in September that would keep the factory open until 2030 to help prevent outages while rolling in the state.
PG&E (PCG) had planned to close the 37-year-old plant in favor of cheaper energy sources like wind and solar, but it declined when Newsom decided the state’s grid would become increasingly vulnerable if no Diablo Canyon.
California narrowly avoided power outages shortly after Newsom signed the law, in a 110 degree day series in September.