PG&E's Diablo Canyon Nuclear Plant Approved for 20-Year License Extension
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1 hour ago
0mins
Should l Buy PCG?
Source: seekingalpha
- License Renewal: PG&E's Diablo Canyon nuclear power plant has received approval from the U.S. Nuclear Regulatory Commission to extend its operating license until 2045, ensuring its critical role in California's power supply amid rising demand and increasing electricity costs.
- Energy Contribution: The plant generates approximately 2,200 MW of energy, accounting for 8.5% of California's electricity supply, and its continued operation will provide 24/7 carbon-free electricity, addressing the state's growing electricity demand and challenges posed by hotter summers.
- Legislative Support: In 2022, California's legislature passed Senate Bill 846, directing PG&E to take action to extend the plant's operating license, reflecting the government's commitment to enhancing the reliability of the state's energy grid and prioritizing clean energy.
- Future Outlook: Although California law currently limits Diablo Canyon's operation to 2030, this license extension will provide greater flexibility and assurance for future energy policies and investments in clean energy.
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Analyst Views on PCG
Wall Street analysts forecast PCG stock price to rise
11 Analyst Rating
9 Buy
2 Hold
0 Sell
Strong Buy
Current: 17.750
Low
18.00
Averages
21.36
High
25.00
Current: 17.750
Low
18.00
Averages
21.36
High
25.00
About PCG
PG&E Corporation is a holding company. The Company's primary operating subsidiary is Pacific Gas and Electric Company (the Utility), a public utility operating in Northern and Central California. The Utility is engaged in the sale and delivery of electricity and natural gas to customers. The Utility generates electricity and provides electric transmission and distribution services throughout its service area in northern and central California to residential, commercial, industrial, and agricultural customers. The Utility provides electricity, transmission, and distribution services in its service area. The Utility owns approximately 18,000 circuit miles of interconnected transmission lines operating at voltages ranging from 60 kilovolts (kV) to 500 kV. The Utility also operates 33 electric transmission substations with a capacity of approximately 67,000 megavolt amperes (MVA). Customers can also obtain electricity from alternative providers such as municipalities (CCAs).
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
NRC Approves Diablo Canyon Power Plant License Renewal for 20 Years
- License Renewal Approval: The NRC has approved PG&E's 20-year license renewal application for Diablo Canyon Power Plant, marking a significant milestone for California's energy future and ensuring continued safe and reliable clean electricity for approximately four million Californians.
- Commitment to Safety and Environment: The renewal process involved a three-year transparent review, including approvals from various state agencies like the California Public Utilities Commission, demonstrating PG&E's strong commitment to safety and environmental sustainability, with expected annual reductions of greenhouse gas emissions equivalent to 1.6 million cars.
- Significant Economic Benefits: The extended operations of Diablo Canyon are projected to generate $450 million annually in economic benefits for California, primarily from avoided greenhouse gas emissions, further solidifying its position as the state's largest source of clean energy.
- Community and Employment Impact: Beyond being California's largest clean energy source, Diablo Canyon employs nearly 1,300 people, making it one of the largest private employers in San Luis Obispo County, with PG&E contributing hundreds of thousands of dollars annually to local community programs and charitable donations, actively engaging in community development.
See More
PG&E's Diablo Canyon Nuclear Plant Approved for 20-Year License Extension
- License Renewal: PG&E's Diablo Canyon nuclear power plant has received approval from the U.S. Nuclear Regulatory Commission to extend its operating license until 2045, ensuring its critical role in California's power supply amid rising demand and increasing electricity costs.
- Energy Contribution: The plant generates approximately 2,200 MW of energy, accounting for 8.5% of California's electricity supply, and its continued operation will provide 24/7 carbon-free electricity, addressing the state's growing electricity demand and challenges posed by hotter summers.
- Legislative Support: In 2022, California's legislature passed Senate Bill 846, directing PG&E to take action to extend the plant's operating license, reflecting the government's commitment to enhancing the reliability of the state's energy grid and prioritizing clean energy.
- Future Outlook: Although California law currently limits Diablo Canyon's operation to 2030, this license extension will provide greater flexibility and assurance for future energy policies and investments in clean energy.
See More
NRC Approves Diablo Canyon Power Plant License Renewal for 20 Years
- License Renewal Approval: The NRC has approved PG&E's 20-year license renewal application for Diablo Canyon Power Plant after a three-year transparent review, confirming its safety and environmental soundness, which will continue to provide clean electricity to about four million Californians and ensure reliability in California's energy supply.
- Environmental and Economic Benefits: The extended operations of Diablo Canyon are expected to avoid $450 million in greenhouse gas emissions annually, equivalent to the emissions from 1.6 million cars, which not only aids California in achieving its net-zero goals but also enhances PG&E's competitiveness in the renewable energy market.
- Addressing Growing Power Demand: The California Energy Commission projects that electricity demand will grow by over 20 gigawatts by 2045, equivalent to the capacity of nine Diablo Canyon plants, and the license renewal will help meet this increasing demand while ensuring grid stability.
- Community and Employment Impact: As California's largest source of clean energy, Diablo Canyon employs nearly 1,300 people and is the largest private employer in San Luis Obispo County, with PG&E providing hundreds of thousands of dollars in donations and volunteer services annually, further solidifying its significant role in the community.
See More
California Digging Safety Alert: Call 811
- Frequent Digging Incidents: In 2025, over 1,200 incidents of underground utility damage occurred in Northern and Central California due to digging, highlighting a widespread issue where residents fail to call 811 for small projects, leading to repair costs averaging $3,500.
- Importance of Safety Calls: In 89% of incidents, homeowners did not call 811, indicating a lack of awareness about underground line locations, which not only poses safety risks but can also result in costly repairs and inconvenient outages, underscoring the necessity of calling 811.
- Misunderstanding Digging Depth: Many residents assume that small digging projects do not require a call to 811; however, underground utilities can be just a few inches below the surface, and this misconception puts people and property at risk, urging the public to call 811 before any digging.
- Role of CGA: The Common Ground Alliance (CGA) is committed to protecting North America's underground infrastructure by promoting effective damage prevention practices, serving as an association of nearly 4,000 members that provides data and information to reduce damages to underground facilities, emphasizing shared responsibility within the industry.
See More
California's Digging Safety Alert: The Importance of Calling 811
- Frequent Digging Incidents: In 2025, over 1,200 incidents of underground utility damage occurred in Northern and Central California due to digging, highlighting a widespread failure among residents to call 811 before small digging projects, with 89% of incidents occurring without prior notification to 811, indicating a significant lack of safety awareness.
- High Repair Costs: The average cost to repair damaged utility lines is $3,500, which not only imposes a financial burden on households but can also lead to service outages, disrupting daily life and underscoring the critical importance of calling 811 before any digging.
- Misconceptions About Digging Projects: Many homeowners mistakenly believe that small digging projects do not require a call to 811; however, surveys reveal that this misconception leads them to overlook potential risks when undertaking minor tasks such as planting trees or installing mailboxes, thereby increasing the likelihood of accidents.
- Safety Digging Recommendations: PG&E advises customers to call 811 at least two business days before starting any digging project, as professionals will mark the locations of underground utilities, ensuring safety during excavation and preventing unnecessary losses and risks.
See More
PG&E to Hold Q1 2026 Earnings Call on April 23
- Earnings Call Announcement: PG&E Corporation will hold its Q1 2026 earnings call on April 23, 2026, at 11:00 a.m. Eastern Time, allowing for enhanced transparency and communication with investors.
- Access Link: The webcast link for the earnings call will be available on PG&E's corporate website, ensuring that investors can easily access the latest financial information and improving interaction between the company and its stakeholders.
- Replay Availability: A replay of the conference call will be accessible via the provided link until April 30, 2026, ensuring that investors who cannot attend live can still obtain key information, thereby enhancing information accessibility.
- Company Overview: Headquartered in Oakland, PG&E Corporation is the parent company of Pacific Gas and Electric Company, serving 16 million Californians across a 70,000-square-mile service area, highlighting its significant role in California's energy market.
See More
NRC Approves Diablo Canyon Power Plant License Renewal for 20 Years
- License Renewal Approval: The NRC has approved PG&E's 20-year license renewal application for Diablo Canyon Power Plant, marking a significant milestone for California's energy future and ensuring continued safe and reliable clean electricity for approximately four million Californians.
- Commitment to Safety and Environment: The renewal process involved a three-year transparent review, including approvals from various state agencies like the California Public Utilities Commission, demonstrating PG&E's strong commitment to safety and environmental sustainability, with expected annual reductions of greenhouse gas emissions equivalent to 1.6 million cars.
- Significant Economic Benefits: The extended operations of Diablo Canyon are projected to generate $450 million annually in economic benefits for California, primarily from avoided greenhouse gas emissions, further solidifying its position as the state's largest source of clean energy.
- Community and Employment Impact: Beyond being California's largest clean energy source, Diablo Canyon employs nearly 1,300 people, making it one of the largest private employers in San Luis Obispo County, with PG&E contributing hundreds of thousands of dollars annually to local community programs and charitable donations, actively engaging in community development.
See More
PG&E's Diablo Canyon Nuclear Plant Approved for 20-Year License Extension
- License Renewal: PG&E's Diablo Canyon nuclear power plant has received approval from the U.S. Nuclear Regulatory Commission to extend its operating license until 2045, ensuring its critical role in California's power supply amid rising demand and increasing electricity costs.
- Energy Contribution: The plant generates approximately 2,200 MW of energy, accounting for 8.5% of California's electricity supply, and its continued operation will provide 24/7 carbon-free electricity, addressing the state's growing electricity demand and challenges posed by hotter summers.
- Legislative Support: In 2022, California's legislature passed Senate Bill 846, directing PG&E to take action to extend the plant's operating license, reflecting the government's commitment to enhancing the reliability of the state's energy grid and prioritizing clean energy.
- Future Outlook: Although California law currently limits Diablo Canyon's operation to 2030, this license extension will provide greater flexibility and assurance for future energy policies and investments in clean energy.
See More
NRC Approves Diablo Canyon Power Plant License Renewal for 20 Years
- License Renewal Approval: The NRC has approved PG&E's 20-year license renewal application for Diablo Canyon Power Plant after a three-year transparent review, confirming its safety and environmental soundness, which will continue to provide clean electricity to about four million Californians and ensure reliability in California's energy supply.
- Environmental and Economic Benefits: The extended operations of Diablo Canyon are expected to avoid $450 million in greenhouse gas emissions annually, equivalent to the emissions from 1.6 million cars, which not only aids California in achieving its net-zero goals but also enhances PG&E's competitiveness in the renewable energy market.
- Addressing Growing Power Demand: The California Energy Commission projects that electricity demand will grow by over 20 gigawatts by 2045, equivalent to the capacity of nine Diablo Canyon plants, and the license renewal will help meet this increasing demand while ensuring grid stability.
- Community and Employment Impact: As California's largest source of clean energy, Diablo Canyon employs nearly 1,300 people and is the largest private employer in San Luis Obispo County, with PG&E providing hundreds of thousands of dollars in donations and volunteer services annually, further solidifying its significant role in the community.
See More
California Digging Safety Alert: Call 811
- Frequent Digging Incidents: In 2025, over 1,200 incidents of underground utility damage occurred in Northern and Central California due to digging, highlighting a widespread issue where residents fail to call 811 for small projects, leading to repair costs averaging $3,500.
- Importance of Safety Calls: In 89% of incidents, homeowners did not call 811, indicating a lack of awareness about underground line locations, which not only poses safety risks but can also result in costly repairs and inconvenient outages, underscoring the necessity of calling 811.
- Misunderstanding Digging Depth: Many residents assume that small digging projects do not require a call to 811; however, underground utilities can be just a few inches below the surface, and this misconception puts people and property at risk, urging the public to call 811 before any digging.
- Role of CGA: The Common Ground Alliance (CGA) is committed to protecting North America's underground infrastructure by promoting effective damage prevention practices, serving as an association of nearly 4,000 members that provides data and information to reduce damages to underground facilities, emphasizing shared responsibility within the industry.
See More
California's Digging Safety Alert: The Importance of Calling 811
- Frequent Digging Incidents: In 2025, over 1,200 incidents of underground utility damage occurred in Northern and Central California due to digging, highlighting a widespread failure among residents to call 811 before small digging projects, with 89% of incidents occurring without prior notification to 811, indicating a significant lack of safety awareness.
- High Repair Costs: The average cost to repair damaged utility lines is $3,500, which not only imposes a financial burden on households but can also lead to service outages, disrupting daily life and underscoring the critical importance of calling 811 before any digging.
- Misconceptions About Digging Projects: Many homeowners mistakenly believe that small digging projects do not require a call to 811; however, surveys reveal that this misconception leads them to overlook potential risks when undertaking minor tasks such as planting trees or installing mailboxes, thereby increasing the likelihood of accidents.
- Safety Digging Recommendations: PG&E advises customers to call 811 at least two business days before starting any digging project, as professionals will mark the locations of underground utilities, ensuring safety during excavation and preventing unnecessary losses and risks.
See More
PG&E to Hold Q1 2026 Earnings Call on April 23
- Earnings Call Announcement: PG&E Corporation will hold its Q1 2026 earnings call on April 23, 2026, at 11:00 a.m. Eastern Time, allowing for enhanced transparency and communication with investors.
- Access Link: The webcast link for the earnings call will be available on PG&E's corporate website, ensuring that investors can easily access the latest financial information and improving interaction between the company and its stakeholders.
- Replay Availability: A replay of the conference call will be accessible via the provided link until April 30, 2026, ensuring that investors who cannot attend live can still obtain key information, thereby enhancing information accessibility.
- Company Overview: Headquartered in Oakland, PG&E Corporation is the parent company of Pacific Gas and Electric Company, serving 16 million Californians across a 70,000-square-mile service area, highlighting its significant role in California's energy market.
See More
