Diablo Canyon Next To Close

SAN LUIS OBISPO, CALIFORNIA June 24, 2016 - Diablo Canyon nuclear power plant's parent company Pacific Gas & Electric PG&E (PCG:NYSE) announced on Tuesday to suspend its licensing renewal application to the NRC.

Diablo's current operating license expires in 2025. Since it's inception, power operators are provided an initial 40 year license to operate with an additional 20 year extension provided certain conditions and measures are met, including hearings, public meetings, audits, safety inspections and risk mitigation analysis.

In  2009, PG&E submitted its renewal application to the NRC in 2009 and since then had progressed through different stages of license renewal for Diablo NRC had estimated a decision on the Diablo Canyon license renewal application to be made after May, 2017. The NRC had planned a decision on the renewal application some time following May 2017.

The power produced by Diablo's two nuclear reactors would eventually be replaced with investments in a greenhouse-gas-free portfolio of energy efficiency, renewables and energy storage in solar and wind technologies, said PG&E.

The shift in California's state energy policy towards renewables have already seen closures in Southern California when San Onofre nuclear power plant closed in 2013 following faulty steam generator replacements proved too costly to repair.

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