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PG&E says it needs to raise customers’ rates to pay for Diablo Canyon Power Plant closure

Posted at 5:04 PM, Dec 13, 2018
and last updated 2018-12-14 01:51:46-05

Pacific Gas and Electric Company (PG&E) is asking the California Public Utilities Commission (CPUC) to allow it to increase rates to pay for the decommissioning of Diablo Canyon Power Plant.

PG&E plans to close the nuclear power plant near Avila Beach by 2025.

The utility company says the decommissioning process will cost $4.8 billion. So far, they’ve reportedly set aside $3.2 billion.

To cover the additional $1.6 billion, PG&E wants to raise customers’ rates starting in 2020 through the end of 2025.

PG&E says the average customer would see a monthly increase of about $1.98 on their bill.

The CPUC must now review PG&E’s proposal. That process will reportedly include public hearings across the state.

PG&E says the amount needed for decommissioning could decrease if some of the facilities at the power plant, such as the marina, are repurposed for other uses.

The Diablo Canyon Decommissioning Engagement Panel, which is made up of 11 community volunteers, has been holding meetings since late May to discuss plans for the future use of the site and lands that surround the plant. It’s next meeting, which is open to the public, is currently scheduled for March 13, 2019.

Related coverage:
Gov. signs bill to mitigate impact of Diablo Canyon Power Plant closure