LOS ANGELES -- The California Legislature signaled its intent on Thursday to cancel a $400 million loan payment to help finance a longer lifespan for the state's last nuclear power plant, exposing a rift with Gov. Gavin Newsom who says that the power is critical to safeguarding energy supplies amid a warming climate.
In 2016, PG&E, environmental groups and plant worker unions reached an agreement to close Diablo Canyon by 2025. But the Legislature voided the deal in 2022 at the urging of Newsom, who said the power is needed to ward off blackouts as a changing climate stresses the energy system. That agreement for a longer run included a $1.4 billion forgivable state loan for PG&E, to be paid in several installments.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: AP - 🏆 728. / 51 Read more »