San Onofre decommissioning fund $300 million short -- utility seeks to further gouge ratepayers over shortfall

Image by J. DeStefano, 2012

As reported by Bloomberg in a June 7 article entitled "Edison Faces Regulatory Battle Over San Onofre Shutdown Cost," regarding decommissioning costs:

'...The cost to customers may not be settled until late next year, Edison said. The company has already asked for a $16 million a year increase to cover the cost of decommissioning the reactors, Scilacci said on today’s call. The decommissioning fund is about $300 million short of what’s needed, he said.

Both reactors at the San Onofre plant, about 45 miles (72 kilometers) southeast of Long Beach, were shut in January 2012 after a radioactive leak and the discovery of unusual wear on tubes that transfer reactor heat to power-generating turbines.

Edison may recover some investment costs from Mitsubishi Heavy Industries Ltd. (7011), maker of the failed plumbing, and from its nuclear insurer, Craver told reporters. The company has asked Mitsubishi for $139 million and $234 million from the insurer, according to a filing...'