California utility in talks over closed-nuke costs

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Michael R. Blood, Associated Press

LOS ANGELES (AP) — Settlement talks are underway to decide who pays the huge bill tied to the shuttered San Onofre nuclear power plant on the Southern California coast.

The costs at issue could exceed $3 billion.

Edison International — the parent of operator Southern California Edison — disclosed in a government filing Friday that a meeting would be held next week to discuss a possible deal.

The question has been who pays for costs from replacement power to investment in the now-closed reactors — ratepayers or company shareholders.

The twin-domed plant was closed permanently last year after a long fight over whether it was safe to restart.

San Onofre hadn't produced power since January 2012, after a small radiation leak led to the discovery of extensive damage to tubing that carried radioactive water.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed

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