Elias: $400M ‘loan’ to PG&E to keep nuclear plant going a raw deal

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Elias: $400M ‘loan’ to PG&E to keep nuclear plant going a raw deal
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Nate is an East Bay community papers editor for the Bay Area News Group and East Bay Times. He edits the Hills weekly Alameda Journal, Berkeley Voice, El Cerrito Journal, Montclarion and Piedmonter newspapers; Central Costa County's weekly Concord Transcript and Walnut Creek Journal papers; and East Contra Costa's weekly East County News.

A $400 million “loan” to Pacific Gas & Electric Co. is supposed to help pay for extending the life of the nuclear Diablo Canyon Power Plant, above, on the coast north of San Luis Obispo.For the umpteenth time in the last 60 years, California electric consumers are again being pestered for more money. As usual, the stated reason is they must pay up by the hundreds of millions of dollars to keep the lights on.This time it’s through a $400 million “loan” to Pacific Gas & Electric Co.

Right now, it’s not federal taxpayers funding PG&E to keep the Diablo Canyon nuclear plant open past next year. Instead, it’s utility customers almost everywhere in California. Yes, even if your power arrives via Southern California Edison, San Diego Gas & Electric or PacifiCorp, you are still being dunned for Diablo.

Rather, millions of electric customers must pay ever-higher bills without argument. For the most part, they do it too, forking over whatever amount appears on monthly invoices. Meanwhile, who’s to say Diablo Canyon will be more reliable than it’s ever been? When working, that one plant can produce 8.5% of all the energy needed to run everything electric in California.

It’s all part of the coddling of big privately-owned utilities by a long series of California governors, Republicans and Democrats. All received large campaign donations from the companies, Newsom’s own take coming to more than $10 million over his career.

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