Biden Finalizes $1.1 Billion in Credits to Help Keep California’s Last Nuclear Power Plant Running

Published on January 18, 2024

The Diablo Canyon Power Plant in California received another financial boost from the Biden administration Jan. 17 to help the state’s last operating nuclear power plant continue operations. The U.S. Department of Energy announced the signing of a $1.1 billion credit award and payment agreement Jan. 17 with Pacific Gas and Electric funded by President Biden’s Infrastructure Law. The nuclear power operation, located between San Francisco and Los Angeles near San Luis Obispo in Central California, was slated to close in 2025, but state officials decided in 2022 to extend the life of two remaining reactors as additional green energy infrastructure lagged behind consumer energy demands. The state has also agreed to spend $1.4 billion to continue operations....