Settlement Reached in San Onofre Nuclear Plant Closure
January 30 2018 - 9:09PM
Business Wire
Southern California Edison and consumer parties today submitted
a settlement agreement to the California Public Utilities
Commission regarding issues and costs associated with the closure
of the San Onofre nuclear plant. If approved by the commission, the
agreement would bring to conclusion the commission’s proceeding
regarding San Onofre by revising the prior settlement it approved
in 2014.
“We are pleased to be able to bring closure to this issue,” said
SCE President Ron Nichols. “The parties undertook extensive efforts
over many months to reach agreement and SCE looks forward to timely
regulatory approval.”
A summary of the agreement is available here. Nichols noted the
following key terms of the settlement:
- Customers of SCE and San Diego Gas
& Electric Co. will no longer pay for $775 million in San
Onofre-related investments that had not yet been recovered by the
utilities under the 2014 settlement. SCE customers’ portion of that
total reduction is worth roughly $68 per residential customer over
the next four years.
- Because the agreement awaits approval
by the commission, any amounts collected by the utilities in excess
of the $775 million while the proposed settlement is pending will
be refunded to customers.
- In addition, the plaintiffs in a
federal court lawsuit challenging the commission’s approval of the
2014 settlement have agreed to dismiss that case in its entirety
following commission approval of the revised settlement announced
today.
- SCE will reimburse SDG&E for
SDG&E’s $151 million share of the $775 million. This provision
will not reduce the revised settlement benefits SCE customers
receive.
SCE and plant co-owner, SDG&E, have already returned more
than $2 billion to customers under the 2014 settlement, which
ensured that customers did not pay for the faulty steam generators,
which prompted the closure of San Onofre, from the time this
equipment failed.
SCE retired San Onofre in June 2013 after a contractor provided
faulty steam generators. SCE is focused on safely decommissioning
the nuclear plant, guided by core principles of safety, stewardship
and engagement. SCE has established a Community Engagement Panel to
support those principles. For more information, visit
songscommunity.com.
About Southern California Edison
An Edison International (NYSE:EIX) company, Southern California
Edison is one of the nation’s largest electric utilities, serving a
population of approximately 15 million via 5 million customer
accounts in a 50,000-square-mile service area within Central,
Coastal and Southern California.
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version on businesswire.com: http://www.businesswire.com/news/home/20180130006529/en/
Southern California EdisonMedia Contact: Maureen Brown, (626)
302-2255Investor Relations: Sam Ramraj, (626) 302-2540
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