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USA: California Reaches $120M Deal With NRG To Fund Charging Stations

California will use part of a $120 million settlement with NRG Energy Inc. (NRG) to help fund a network of electric-car charging stations, the latest plank of its initiative to put 1.5 million zero-emission vehicles on state roadways by 2025.

The agreement, which stems from litigation assumed when NRG took control of rival utility Dynegy Inc.’s (DYN) California assets in 2006, allocates $100 million toward building at least 200 public fast-charging stations as well as 10,000 plug-in units. The remainder will fund rate relief for California power users, the state said.

The deal resolves 10-year-old claims from the California Public Utilities Commission, which had accused Dynegy of overcharging for long-term power contracts during the state’s energy crisis.

The California Air Resources Board Chair in January voted to require the largest automakers to derive 15% of their annual sales in the state from electric cars or near-zero-emissions vehicles by 2025
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