(The following is a reformatted version of a press release
issued by The California Public Utilities Commission and
received via electronic mail. The release was confirmed by the
CPUC APPROVES PG&E AGREEMENT FOR OAKLEY GENERATING STATION
SAN FRANCISCO, December 20, 2012 - The California Public
Utilities Commission (CPUC) today approved an amended purchase
and sale agreement between Pacific Gas and Electric Company
(PG&E) and Contra Costa Generating Station LLC for the Oakley
The Oakley Generating Station will be a 586 megawatt (MW)
combined-cycle facility located in Oakley, Calif. Contra Costa
Generating Station LLC will construct and sell the Oakley
project to PG&E, with a commercial on-line date of June 2016.
The transaction will result in an annual revenue requirement of
approximately $200 million to allow PG&E to recover the non-fuel
costs of constructing and operating the project.
“The Oakley plant will provide benefits to California that
include renewable integration and reduced emissions and water
use compared with other plants,” said CPUC President Michael R.
Peevey. “In addition, the Oakley plant is highly viable, with
construction already underway.”
The proposal voted on today is available at
For more information on the CPUC, please visit www.cpuc.ca.gov.
Terrie Prosper, 415.703.1366, firstname.lastname@example.org
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