Get ready for PG&E rate hike Armageddon.The Diablo Canyon nuclear power plant is up for relicensing in 2024. It happens to also be the deadline imposed by the State Water Resources Control Board for all 19 coastal power plants in California to reduce damages their cooling systems cause to marine life by 93 percent.The price tag for PG&E to comply is $12 billion.It gets worse.Federal regulators have mandated PG&E install safety equipment costing $50 million at Diablo Canyon in the aftermath of the Fukishima nuclear plant disaster that was triggered by a tsunami. There is an ongoing debate between the Nuclear Regulatory Commission, the Union of Concerned Scientists and PG&E about whether the reactors can withstand a major earthquake.