Filings Validate Reasonableness of San Onofre Settlement which Ensures SCE Customers Do Not Pay for Mitsubishi’s Faulty Ste...
July 21 2016 - 4:48PM
Business Wire
Filings submitted on July 7 to the California Public Utilities
Commission do not call into question the reasonableness of the
settlement agreement regarding the San Onofre nuclear plant
closure, according to the reply submitted today by Southern
California Edison.
The filings were made in response to a May 9 commission ruling
to reopen the record of the San Onofre settlement, reached in 2014
by SCE, San Diego Gas and Electric Co. and consumer, environmental
and labor advocates.
The commission asked the parties to address whether the
substantive terms of the settlement remain reasonable, lawful and
in the public interest. According to SCE’s reply, none of the
parties’ filings shows that the substantive terms of the settlement
are unreasonable.
“We continue to believe the transparency of this process will
allow interested parties to review the settlement and confirm for
themselves that it should stand,” said Ron Nichols, president of
SCE.
“Our shareholders, and not customers, are paying for the faulty
steam generators from the day they were no longer providing power,”
Nichols said. He noted that the settlement reduced the amount
residential customers pay in their monthly bills for past
investments to build and maintain San Onofre.
“The portion of residential customers’ bills attributable to San
Onofre — currently about $2 per month — doesn’t cover the cost of
the faulty steam generators, but instead pays for other reasonable
investments in a plant that provided safe, reliable, low-cost power
for nearly 30 years,” Nichols added.
The settlement also:
- Recognizes that SCE is aggressively
pursuing an arbitration to maximize recovery from Mitsubishi, the
designer of the faulty steam generators, and requires that 50
percent of any net proceeds from legal action be returned to
customers.
- Has credited to customers $500 million,
including $293 million from a recovery that SCE obtained from its
insurance carrier.
SCE retired San Onofre in June 2013 and 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 nearly 14 million via 5 million customer accounts in
a 50,000-square-mile service area within Central, Coastal and
Southern California.
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Southern California EdisonMedia Contact:Maureen Brown, (626)
302-2255
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