Customer Rate Cuts Go Into Effect From Final San Onofre Nuclear Plant Settlement
August 28 2018 - 6:33PM
Business Wire
Beginning immediately, Southern California Edison customers will
see rate reductions reflected in their bills following the July 26
approval by the California Public Utilities Commission of a
modified settlement resolving costs and what customers are owed
associated with the closure of the San Onofre nuclear plant.
“We have been on a path with an eye toward customer bill
reductions for many months now,” said SCE President Ron Nichols.
“The settling parties had proposed the reductions eight months ago
and we are gratified to see these now go into effect for our
customers.”
Nichols said there are two elements to the reduction in customer
rates: a one-time refund of about $11 per average residential
customer and $6 for an average customer participating in the
California Alternate Rates for Energy (CARE) assistance program to
offset revenues collected since last December; and a 2 percent
reduction in rates going forward, which equals about $2 per month
for an average residential customer and $1 for an average CARE
customer. Rate reductions for non-residential customers will vary
depending upon a number of factors.
The total rate reductions under the approved settlement — $775
million of which $155 million is the refund amount — are in
addition to the more than $2 billion in customer savings under the
2014 settlement that was modified by the commission’s July 26
action.
SCE retired San Onofre Units 2 and 3 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: https://www.businesswire.com/news/home/20180828005873/en/
Southern California EdisonMedia Contact:Liese Mosher, (626)
302-2255orInvestor Relations:Sam Ramraj, (626) 302-2540
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