PCG - California seeking federal funds to keep Diablo Canyon nuke plant open

California Governor Gavin Newsom has asked the Biden administration if it can qualify for federal funds to support maintaining PG&E's (NYSE:PCG) Diablo Canyon nuclear power plant, Bloomberg reported on Wednesday. Newsom's office reportedly said Diablo Canyon, California's last remaining nuclear power plant, may be needed to fill potential electricity shortfalls caused by the planned retirements of power generators as well as delayed clean power projects. The move is part of a rising trend around the world as nuclear power gains newfound support for its ability to generate around-the-clock power without carbon emissions. Diablo Canyon is currently scheduled to close in mid-2025 under an agreement between the state, environmentalists and PG&E (PCG), but Newsom said last month that the utility should consider keeping it open. PG&E (PCG) is now in talks with state officials about options for the plant, and is waiting to see if the reactors qualify for funding from the U.S. Department

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California seeking federal funds to keep Diablo Canyon nuke plant open