PCG - PG&E asks for more time to apply for funds to keep nuclear plant open

PG&E (NYSE:PCG) asked the U.S. Department of Energy on Tuesday for an extension to the deadline to apply for federal funds that could keep its Diablo Canyon nuclear plant in California open, to allow for "time to collect and analyze the information and prepare an application." In a letter to the DoE's Office of Nuclear Energy, PG&E (PCG) said it supported a proposal to remove the requirement that a facility that receives funding derive more than half of its revenue in the competitive electricity market, a qualification that may have blocked Diablo's eligibility. Diablo Canyon is scheduled to shut down in 2025, but California Governor Gavin Newsom has said the state was open to keeping it in operation to shore up reliability.

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PG&E asks for more time to apply for funds to keep nuclear plant open