Media Contact: Maureen Brown, (626) 302-2255
Investor Relations: Sam Ramraj, (626) 302-2540
ROSEMEAD, Calif., Oct. 10, 2017 — Southern California Edison will participate in the additional process ordered today by the California Public Utilities Commission in a ruling regarding the San Onofre nuclear plant closure settlement approved in 2014.
Ron Nichols, SCE president, said that today’s ruling does not invalidate the settlement. The ruling establishes a process to determine whether the settlement should be changed and, if so, how. The ruling sets forth an initial expedited schedule with hearings tentatively scheduled to end in early March and a commission decision to follow.
“Southern California Edison will actively participate in the process ordered today,” Nichols said.
The San Onofre settlement was approved by the commission in 2014 following the premature retirement of the nuclear plant.
Nichols noted the settlement ensured that customers did not pay for the faulty steam generators, which prompted the closure of San Onofre, from the time this equipment failed. The settlement also reduced the portion SCE customers pay in their monthly bills for the past investments to build and maintain San Onofre over the nearly 30 years the plant provided safe, reliable and low-cost power.
SCE and plant co-owner, San Diego Gas & Electric, have already returned more than $2 billion to customers under the 2014 settlement.
SCE retired San Onofre 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.