US Finalizes $1.1 Billion Award to PG&E For California Reactors

The Energy Department has finalized an award of as much as $1.1 billion to PG&E Corp. to keep two nuclear reactors in service at its Diablo Canyon nuclear power plant, according to a notice made public Friday.

• Funding, which was conditionally awarded in November 2022, will be paid retroactively over a four-year period subject to license extensions by the Nuclear Regulatory Commission: Energy Dept.
• NOTE: NRC earlier this month granted PG&E permission to run its Diablo Canyon nuclear power plant under its current license while it reviews the utility’s application to extend the life of the California facility
• NOTE: ...