California’s energy landscape just got spicier, and not in a good way. Governor Gavin Newsom’s grand plan to keep Diablo Canyon nuclear power plant running is looking more like a financial rollercoaster than a sustainable solution.

The Loan That Might Not Be a Loan

What started as a $1.4 billion state loan to extend Diablo Canyon’s life is now revealing some serious financial cracks. PG&E, everyone’s favorite utility company (note the sarcasm), might walk away leaving taxpayers holding a hefty $588 million bill. Talk about a nuclear-sized oopsie.

Follow the Money Trail

Here’s the tea: Newsom’s administration promised federal funds would cover the entire loan. Spoiler alert? They won’t. The Department of Energy can only award $1.2 billion, and PG&E applied for even less. Those extra costs? Potentially coming straight out of California’s already strained general fund.

The Accountability Question

Lawmakers like Senator Scott Wiener are raising eyebrows, questioning the financial wisdom of throwing millions at an investor-owned utility without clear repayment plans. Assemblymember Tasha Boerner didn’t mince words, calling it another blow to public trust.

Bottom line: Californians might be footing an unexpected bill for a nuclear power plant extension that was supposed to be a financially sound move. Nuclear power: complicated. PG&E’s accounting? Even more complicated.