Licence transfer gets go-ahead

3 July 2003

NRC has approved the transfer of Diablo Canyon's operating licences from Pacific Gas & Electric (PG&E) to two sister companies as part of PG&E's financial reorganisation.

As a result of PG&E's application, Diablo Canyon LLC will be the owner of the two-reactor facility, and will be responsible for funding the station's decommissioning. Electric Generation LLC will operate and maintain the facility under a lease that makes it responsible for all operating costs. Both Diablo Canyon LLC and Electric Generation LLC will be listed as licencees.

Diablo Canyon LLC is a wholly owned subsidiary of Electric Generation LLC, which is an indirect wholly owned subsidiary of PG&E.

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