A utility company and some government agencies on the Central Coast have come up with a $85 million dollar proposal to try to help ease the economic impacts of the closure of the Diablo Canyon Nuclear Power Plant.
Earlier this year, PG & E and a coalition of environmental groups announced a deal which would allow the plant to continue to operate for the next nine years, but then permanently close it by the end of 2025.
The plan created a lot of concern among officials with San Luis Obispo County and a number of nearby cities. They’re worried about the huge economic impacts of the closure.
The just announced financial plan would provide money for the county, a half dozen cities, and the San Luis Obispo Coastal School District over the next nine years to help offset the loss in tax revenues from the shutdown.
The county served as the lead agency in negotiating the deal, with the talks apparently having a big impact. The company’s proposal went from around $50 million dollars to $85 million dollars in compensation.
