Leaders.com
  • Business
  • Leadership
  • Wealth
  • Master Classes
  • Business
    • Entrepreneurs
    • Executives
    • Marketing and Sales
    • Social Media
    • Innovation
    • Women in Business
  • Leadership
    • Personal Growth
    • Company Culture
    • Public Speaking
    • Productivity
    • Hiring
    • Social Issues
    • Leaders
  • Wealth
    • Investing
    • Cryptocurrency
    • Retirement
    • Venture Capital
    • Loans and Borrowing
    • Taxes
    • Markets
    • Real Estate
  • Master Classes
Business Biden gives funding to nuclear

New funding from the Biden administration will help keep the Diablo Canyon Nuclear Power Plant alive. (Photo by George Rose/Getty Images)

By Hannah Bryan Leaders Staff

Hannah Bryan

News Writer

Hannah Bryan is a news writer for Leaders Media. Most recently she was a reporter for the Sanilac County News...

Full bio


Learn about our editorial policy

Nov 21, 2022

Biden’s View on California Nuclear Plant

The Biden administration has announced $1.1 billion in federal funding to support the Diablo Canyon Nuclear Power Plant in California. 

Key Details

  • A grant will be given to Pacific Gas & Electric Co. (PG&E) to stop the closure of California’s last nuclear power plant. 
  • The nuclear plant would have been decommissioned in the next one to two years, but California legislators recently voted to retain the power source. 
  • PG&E initially applied for the grant when the Department of Energy announced a $6-billion program to help nuclear power plants stay open.

Why it’s news

The announcement of federal funding for the plant is an important step in the plans to keep the plant open. Though California lawmakers agreed to retain the plant for another five years, the plant is in need of repairs and updates. 

The grant funding will help PG&E recoup its expected losses that it will incur while keeping the plant open. 

As California’s single largest power provider, the plant will play an important role in providing electricity for the state. Currently, it provides 8.6% of the state’s electricity needs.

Retaining the plant helped the Golden State avoid rolling blackouts during heat waves in the 2022 summer. 

The decision to keep the plant operation was not universally approved. Some critics pointed out that the plant is vulnerable to earthquakes and contains no permanent waste disposal options.

As a carbon-free energy option, the Biden administration has been friendly to nuclear power options. 

“Nuclear energy will help us meet President Biden’s climate goals, and with these historic investments in clean energy, we can protect these facilities and the communities they serve,” Energy Secretary Jennifer Granholm said.

Backing up a bit

In a last-minute vote, the California legislature approved Governor Gavin Newsom’s plan to keep nuclear power in the state.

The bill that includes a $1.4-billion loan to postpone the Diablo Canyon nuclear power plant’s closing passed Thursday as California’s legislative session ended. 

Through the new bill, Governor Newsom’s plan clears some of the bureaucratic hurdles that would make reopening the plant more difficult. 

Californians have been debating keeping the plant open in an effort to stave off an energy shortage in the midst of heat waves across the state. The Diablo Canyon plant produces nearly 9% of California’s energy.

Home / News / Biden’s View on California Nuclear Plant
Share
FacebookTweetEmailLinkedIn

Related Stories

Seattle Takes The Crown For Advanced Tech Talent

by PJ Howland Leaders Staff
Tech

Oct 24, 2023

Seattle tech talent

Seattle has emerged as the metro area with the most advanced tech talent, beating out tech hubs like San Francisco and Silicon Valley.

Key Details

  • According to a new ranking by the Burning Glass Institute, Seattle has the highest proportion of advanced tech workers compared to other cities with similarly sized tech workforces.
  • The ranking evaluated 60 million high-paying, in-demand tech job postings and histories to identify cities with cutting-edge roles like AI and cybersecurity rather than legacy tech positions.
  • With tech giants Amazon and Microsoft headquartered in Seattle, the city edged out the San Francisco Bay Area, Boston, Austin, and Raleigh on the list.
  • The report found that demand for software developers and IT support specialists has declined over the past five years as companies seek more specialized tech talent.

Go deeper

FacebookTweetEmailLinkedIn

More Americans Can’t Keep Up With Car Payments

by Colin Baker Leaders Staff
Loans and Borrowing

Oct 23, 2023

car loans, used cars

A record number of Americans are behind on their car loan payments as higher interest rates and prices weigh on consumers.

Key Details

  • According to data from Fitch Ratings, 6.11% of car loans were at least 60 days delinquent in September, the highest since tracking began in the early 2000s.
  • Some interest rates on used cars can rise to as much as 21%, according to Bankrate.
  • Soaring prices and rising interest rates are squeezing consumers, making it difficult for some to keep up with their auto loans.

Go deeper

FacebookTweetEmailLinkedIn

Chevron Makes $53 Billion Deal Amid Surging Gas Prices

by PJ Howland Leaders Staff
Markets

Oct 23, 2023

Chevron Gas Deal

Chevron is acquiring Hess Corp. for $53 billion, the second significant oil producer acquisition this month as crude prices climb.

Key Details

  • Chevron is purchasing Hess in an all-cash deal worth $53 billion, including debt and preferred stock redemption.
  • This comes just weeks after ExxonMobil announced its $59.5 billion purchase of Pioneer Natural Resources.
  • With oil over $80 per barrel, major producers are using their windfall profits to acquire smaller players and boost payouts to shareholders.
  • Chevron expects the deal to close in H1 2023 pending regulatory approvals and Hess shareholder vote.
  • Hess CEO John Hess will join Chevron's board once the acquisition is complete.

Go deeper

FacebookTweetEmailLinkedIn
nike logo
Company Culture

Oct 20, 2023

Nike to Require More In-Office Days From Employees

by Colin Baker Leaders Staff
blue collar workers
Retirement

Oct 20, 2023

Explaining The ‘C+ Grade’ Retirement Ecosystem in The United States

by PJ Howland Leaders Staff
netflix building
Entertainment

Oct 19, 2023

Netflix Hiking Prices While Adding Millions of Subscribers

by Colin Baker Leaders Staff

Recent Articles

Hiring

Nov 1, 2023

Learn the Winning Answers to the Most Common Phone Interview Questions

Come to your next phone interview fully prepared

Personal Growth

Oct 30, 2023

85 Quotes on Self-Love to Boost Your Self-Esteem

Don’t fall into the trap of harsh self-criticism

Company Culture

Oct 27, 2023

What is a Sabbatical? Your Ticket to Restful Growth and Meaning

Sabbaticals can benefits both employees and businesses

  • Business
  • Leadership
  • Wealth
Join the Leaders Community

Get exclusive tools and resources you need to grow as a leader and scale a purpose-driven business.

Subscribing indicates your consent to our Terms & Conditions and Privacy Policy

Leaders.com
  • Privacy Policy
  • About
  • Careers
  • Cookie Policy
  • Terms
  • Disclosures
  • Editorial Policy
  • Member Login

© 2025 Leaders.com - All rights reserved.

Search Leaders.com