U.S. Department of Energy Confirms Diablo Canyon Power Plant’s Eligibility for Civil Nuclear Credit Program Funding
November 21 2022 - 11:13AM
Business Wire
Plant Would Continue Serving as a Reliable,
Low-Cost, Carbon-Free Bridge While State Brings Online New Clean
Energy Resources
Today, the U. S. Department of Energy (DOE) confirmed Pacific
Gas and Electric Company’s (PG&E) Diablo Canyon Power Plant
(DCPP) is eligible for federal funding through the Civil Nuclear
Credit Program.
PG&E filed its application for federal funding on September
2, 2022, the same day California Governor Gavin Newsom signed
Senate Bill 846 into law, seeking to extend operations at DCPP in
San Luis Obispo County for five years beyond its current license
expiration in 2025. The plant would be used to improve statewide
energy system reliability and reduce greenhouse gas emissions while
additional renewable energy and carbon-free resources come
online.
Last month, the state authorized a loan of up to $1.4 billion
from the Department of Water Resources to PG&E to support
extending operations at the plant. SB 846 further directed PG&E
to pursue funds from DOE, and any other potentially available
federal funds, to pay back the loan and lower costs for customers
should the plant’s operating license be extended.
“This is another very positive step forward to extend the
operating life of Diablo Canyon Power Plant to ensure electrical
reliability for all Californians,” said PG&E Corporation Chief
Executive Officer Patti Poppe. “While there are key federal and
state approvals remaining before us in this multi-year process, we
remain focused on continuing to provide reliable, low-cost,
carbon-free energy to the people of California, while safely
operating one of the top performing plants in the country.”
PG&E has been conditionally awarded a total of approximately
$1.1 billion from the DOE. Final award amounts will be determined
following completion of each year of the award period, and amounts
awarded will be based on actual costs.
“This is a critical step toward ensuring that our domestic
nuclear fleet will continue providing reliable and affordable power
to Americans as the nation’s largest source of clean electricity,”
said U.S. Secretary of Energy Jennifer M. Granholm. “Nuclear energy
will help us meet President Biden’s climate goals, and with these
historic investments in clean energy, we can protect these
facilities and the communities they serve.”
DCPP’s Safe and Reliable Operations
PG&E is committed to the highest levels of safety,
performance and security at DCPP. The plant has an excellent safe
operating record and is subject to rigorous regulatory oversight,
including with respect to seismic safety. To learn more, click
here. The Nuclear Regulatory Commission’s (NRC) current assessment
places DCPP among the highest performing plants in the nation and
continues to find the facility is operating safely and meeting
industry-established safety and performance objectives. All plant
operations will continue to be overseen and monitored by the NRC,
as well as several other independent industry and external
oversight entities.
DCPP can generate 2,200 megawatts of baseload electricity, and
currently provides approximately 17% of California’s zero-carbon
electricity supply and 8.6% of the state’s total electricity
supply.
About PG&E
Pacific Gas and Electric Company, a subsidiary of PG&E
Corporation (NYSE:PCG), is a combined natural gas and electric
utility serving more than 16 million people across 70,000 square
miles in Northern and Central California. For more information,
visit www.pge.com/ and http://www.pge.com/about/newsroom/.
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