SACRAMENTO, March 26 (UPI) -- Money from a settlement with NRG Energy Inc. lays the foundation for a clean energy future for California drivers, a low-carbon advocate said.
California reached a $120 million settlement with NRG. The company was accused of inflating costs during the state energy crisis in 2000 and 2001. The settlement will help fund a network of electric vehicle charging stations across the state.
"Using the settlement in this creative way is turning a dark chapter in the state's recent past into a fantastic opportunity to build our future," Adrienne Alvord, California and Western states director for the Union of Concerned Scientists, said.
"This is an example of the sort of imaginative leadership we welcome to help create a cleaner and more secure future."
California Gov. Jerry Brown, a Democrat, said the settlement funds would help finance at least 200 fast-charging stations and another 10,000 plug-in units across the state. The charging stations will be fee-based.
"This network will be built with private funds on a sustainable business model that will allow NRG to maintain and grow the network as EV adoption grows," NRG Chief Executive Officer David Crane said in a statement.
The settlement was reached between the California Public Utilities Commission and NRG.