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Study on Diablo Canyon Power Plant closure finds $801 million economic impact

Posted at 5:29 PM, Jun 26, 2019

A report prepared by researchers at UC Berkeley finds that the economic impact of the closure of Diablo Canyon Power Plant will be smaller than previous estimates.

The Economic Impact Assessment was released Wednesday. It’s the result of Senate Bill 968, authored by Sen. Bill Monning, which required an assessment of the effect the power plant’s closure will have on the local economy.

Pacific Gas and Electric Company (PG&E) plans to close the nuclear power plant near Avila Beach by 2025.

According to the report, the closure is expected to decrease economic activity by about $801 million annually in San Luis Obispo County. It says previous estimates placed losses closer to $1 billion per year.

The report says there are also some positive economic impacts to consider both before and after the plant closes, including how an $85 million community impact mitigation settlement from PG&E could stimulate the economy.

Click here to read the full report.

A public forum to answer questions about the study will be held this Friday at 1 p.m. at the San Luis Obispo County Board of Supervisors Chambers, located at 1055 Monterey St. in San Luis Obispo.