STOCK TITAN

Nuclear Regulatory Commission Approves PG&E Request Related to Continued Operations at Diablo Canyon Power Plant (DCPP)

Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary

The Nuclear Regulatory Commission (NRC) approved Pacific Gas and Electric Company's (PG&E) exemption request to operate the Diablo Canyon Power Plant (DCPP) beyond the current licenses, which expire in 2024 and 2025. This decision supports California Senate Bill 846, aimed at extending operations to enhance electric reliability amid the state's clean energy transition. PG&E plans to submit a new License Renewal Application by the end of 2023. Additionally, the California Energy Commission adopted a report endorsing the extension of DCPP operations until at least 2030, indicating potential reliability issues if the plant is not continued.

Positive
  • NRC's approval allows PG&E to operate DCPP beyond current license expiration dates.
  • Supports California Senate Bill 846 to improve statewide electric reliability.
  • PG&E plans to submit a new License Renewal Application by the end of 2023.
  • California Energy Commission's report supports extending DCPP operations at least until 2030.
Negative
  • None.

NRC Decision Supports State Legislation to Seek Extended Operations at DCPP

AVILA BEACH, Calif., March 2, 2023 /PRNewswire/ -- On March 2, 2023 the Nuclear Regulatory Commission (NRC) approved Pacific Gas and Electric Company's (PG&E) exemption request to allow continued operations at Diablo Canyon Power Plant (DCPP) past the plant's current licenses. This exemption will allow PG&E, similar to exemptions granted to other utilities, to continue operating both units at DCPP while the company's License Renewal Application (LRA) is under review. The NRC's decision supports the state's direction under California Senate Bill 846 to seek to extend plant operations to support statewide electric reliability during the clean energy transition.

PG&E intends to submit a new LRA by the end of 2023. The current NRC operating licenses for Units 1 and 2 expire in 2024 and 2025, respectively.

"We are pleased the NRC approved our exemption request. Aligned with Senate Bill 846, PG&E will continue on the path to extend our operations beyond 2025 to improve statewide electric system reliability and reduce greenhouse gas emissions as additional renewable energy and carbon-free resources come online. We are committed to California's clean energy future, and we are proud of the role DCPP plays as the state's largest clean energy producer, providing reliable, affordable, carbon-free energy to the people of California," said Paula Gerfen, Senior Vice President and Chief Nuclear Officer.

California Energy Commission Adopts DCPP Analysis

Another milestone in extending DCPP operations came earlier this week, when the California Energy Commission unanimously voted to adopt a report finding that extending operations to at least 2030 is prudent. The analysis found that the state's electricity forecasts for years 2024-2030 show potential for reliability deficiencies if DCPP operation is not extended. The report was developed in consultation with the California Independent System Operator and the California Public Utilities Commission. Review the full report here.

About PG&E

Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE:PCG), is a combined natural gas and electric utility serving more than 16 million people across 70,000 square miles in Northern and Central California. For more information, visit pge.com and pge.com/news.

About Diablo Canyon Power Plant

Diablo Canyon Power Plant is a nuclear power facility owned and operated by PG&E. It is California's largest clean energy producer, and its two units together produce approximately 2,300 net megawatts of carbon-free power.

 

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/nuclear-regulatory-commission-approves-pge-request-related-to-continued-operations-at-diablo-canyon-power-plant-dcpp-301761263.html

SOURCE Pacific Gas and Electric Company

FAQ

What decision did the NRC make regarding PG&E on March 2, 2023?

The NRC approved PG&E's exemption request to allow continued operations at Diablo Canyon Power Plant beyond current licenses.

How does the NRC's decision relate to California Senate Bill 846?

The decision supports California Senate Bill 846, which seeks to extend DCPP operations for electric reliability during the clean energy transition.

When does PG&E plan to submit a new License Renewal Application?

PG&E intends to submit a new License Renewal Application by the end of 2023.

What are the current license expiration dates for DCPP's Units 1 and 2?

The licenses for Units 1 and 2 expire in 2024 and 2025, respectively.

What did the California Energy Commission report conclude about DCPP operations?

The California Energy Commission's report concluded that extending DCPP operations to at least 2030 is prudent to avoid reliability deficiencies.

PG&E Corporation

NYSE:PCG

PCG Rankings

PCG Latest News

PCG Stock Data

44.18B
2.59B
2.67%
76.55%
1.5%
Utilities - Regulated Electric
Electric & Other Services Combined
Link
United States of America
OAKLAND