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Should Southern California ratepayers have to pay $2.4 billion for closed down San Onofre nuclear plant?

san-onofre-deadfCalifornia Utility Wants $2 Billion From Ratepayers For Shuttered Nuclear Plant http://www.forbes.com/sites/williampentland/2013/09/06/california-utility-wants-2-billion-from-ratepayers-for-shuttered-nuclear-plant/ Forbes, William Pentland, 6 Sept 13 Southern California Edison (SCE) wants at least $2.4 billion fromratepayers over the next seven years to cover the costs of the shuttered San Onofre nuclear plant, according to the Associated Press.

The San Onofre Nuclear Generating Station (SONGS) in southern California was initially shut down in January 2012 after operators discovered damaged tubing in the facility’s steam generators.

SCE decided to shut down the nuclear reactors permanently in June.

In August, SCE provided a proposal to recover the capital investment in SONGS to the California Public Utilities Commission, which claimed to need the money to compensate shareholders.

The California Division of Ratepayer Advocates has argued ratepayers should not be charged for a plant that is not producing power.

It is hard to disagree.

September 7, 2013 - Posted by | business and costs, USA

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