The County of San Luis Obispo is receiving $23.85 million from PG&E to reduce the local impact of the closure of the Diablo Canyon Power Plant.
Nearly $9.6 million will go toward San Luis Obispo County and surrounding city’s economic development purposes. The remaining $18.75 million will be given to 70 public agencies within the County and incorporated cities.
“This is good news for our region as it will allow us to fund important programs and services that will help SLO County mitigate the impacts caused by the closure of Diablo Canyon Power Plant,” said Assistant County Administrative Officer Guy Savage in a press release. “We look forward to continuing to forge public-private partnerships that will help us maintain essential public services and education services, while also restructuring and building a stable local economy.”
The funding was provided through Senate Bill 1090, which was signed into law by former Governor Jerry Brown in September 2018. The bill provided $85 million to ease the effects of the future closure of the power plant. The rest of the mitigation funds will be doled out in the amount of $9.38 million given yearly from 2020-2025.
Diablo Canyon Power Plant is expected to stop operations no later than 2025.