NRG Energy price inflation settlement: $100 million for electric vehicle charging stations

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A penalty to be paid by an energy company to settle a dispute with California will mostly pay for electric car charging stations around the state of California.

NRG Energy will spend $100 million on fast-charging stations for electric vehicles, as well as new plug-in units and upgrades for chargers.

That work is part of an agreement with the state of California that settles a decade-long dispute over price inflation for energy contracts.

A fifth of the new chargers will be in low-income neighborhoods.

Drivers that use the high-speed chargers will be able to pay for as few as 15 minutes of charging time to add as much as 50 miles to their electric car’s range while NRG collects the fees. Another $20 million of the settlement will go to ratepayer relief.

Now that the governor and state regulators have signed off on the settlement, the federal government has to give its approval.

Carmakers and electric vehicle enthusiasts are hailing the settlement as a boost that will hopefully take the electric car to the next level.

Last month saw the best sales for electric vehicles in history.

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