SB 968 Summary

• Requires the Public Utilities Commission to complete an economic impact assessment by July 1, 2018, evaluating potential adverse and beneficial effects if the Diablo Canyon Units 1 and 2 nuclear powerplant shuts down before its operating licenses expire.

• Assessment must be conducted by an independent third party and include analysis of local tax revenue changes, workforce impacts, ratepayer effects, and review of economic impacts from the San Onofre Nuclear Generating Station closure.

• Independent third party must consult with San Luis Obispo County supervisors, local school districts, UC Berkeley's Center for Labor Research and Education, and regional economic development groups.

• Authorizes withdrawal of $400,000 from the Diablo Canyon nuclear decommissioning trust funds to pay for additional Public Utilities Commission staff to conduct the assessment.

• Takes effect immediately as an urgency statute; applies specifically to Pacific Gas and Electric Company's Diablo Canyon facility, which announced in June 2016 it would not renew operating licenses expiring in 2024 and 2025.