Coastal Commission Oversees Divestiture of Property from Pacific Gas and Electric Company
What happened
The California State Coastal Conservancy approved a $42 million grant to the Wildlands Conservancy to support land preservation goals in the region. This funding allows the Wildlands Conservancy to acquire leaseholder interest and fee title of Wild Cherry Canyon from Eureka Energy, a subsidiary of Pacific Gas and Electric Company. The Wildlands Conservancy will manage the property alongside the Land Conservancy of San Luis Obispo County and the yak titʸu titʸu yak tiłhini (ytt) Northern Chumash Tribe.
From newtimesslo.com
Why it matters
The grant aims to fulfill long-term goals of conserving the coastal open space at Wild Cherry Canyon, which is southeast of the Diablo Canyon nuclear power plant. This process is part of the ongoing efforts overseen by the California Coastal Commission regarding land use and environmental concerns for Pacific Gas and Electric Company.
From newtimesslo.com
Who's involved
- Pacific Gas and Electric CompanyThe property owner whose subsidiary is targeted for divestiture.
- California Coastal CommissionThe agency overseeing land use and environmental concerns regarding divestiture.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- Pacific Gas and Electric CompanySpeculative
Pacific Gas and Electric Company could see a change in its asset portfolio as it divests property interests.
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The entities involved
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Pacific Gas and Electric Company
American utility company
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California Coastal Commission
California government agency