ROSEMEAD, Calif.--(BUSINESS WIRE)--First paragraph, first sentence of the release dated December 14, 2016, at 1:17 a.m. ET/December 13, 2016, at 10:17 p.m. PT, has been changed to correct an embedded link.
The corrected release reads:
SOUTHERN CALIFORNIA EDISON RESPONDS TO RULING ON SAN ONOFRE NUCLEAR PLANT SETTLEMENT
Southern California Edison (SCE) is disappointed in a ruling issued Tuesday by the assigned commissioner and an administrative law judge at the California Public Utilities Commission directing that SCE confer with other parties in the San Onofre nuclear plant proceeding regarding possible changes to the SONGS settlement that was unanimously approved by the CPUC in 2014.
SCE continues to believe the settlement reflects an appropriate allocation of costs but will begin preparing to participate in the process spelled out in the ruling to schedule a meeting and confer with other parties by Jan. 31.
The settlement of the San Onofre nuclear plant shutdown protects customer interests by requiring investors to pay for the replacement steam generators that prompted the closure of San Onofre in June 2013 from the point that they failed. SCE has provided or will provide refunds and rate reductions of almost $1.6 billion under the settlement, and this amount may be increased by recoveries from Mitsubishi Heavy Industries, the supplier of the defective steam generators.
The previously approved settlement also reduced the amount residential customers pay in their monthly bills for past investments to build and maintain San Onofre, which provided safe, reliable, low-cost power for nearly 30 years.
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.