Edison Faces Regulatory Battle Over San Onofre Shutdown Cost
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Edison International faces a regulatory battle over who will pay for about $3.4 billion of costs related to the decision to retire the San Onofre nuclear plant amid a record number of U.S. nuclear closures.
Southern California Edison, the utility unit that owns and operates what had been California’s largest source of round-the clock electricity, has a $2.1 billion investment in the two reactors and may have to refund some of the $1.3 billion collected from customers since the plant quit producing power in January 2012, Chief Executive Officer Ted Craver told reporters today on a conference call.