Edison International enters $1.4B San Onofre settlement deal

|About: Edison International (EIX)|By:, SA News Editor

Electricity customers in Southern California would receive $1.4B in refunds on their bills over the next eight years as part of a proposed settlement between Southern California Edison (EIX), San Diego Gas & Electric and ratepayer organizations over the closing of the San Onofre nuclear power plant.

San Onofre was shut in early 2012 after a small radioactive leak was discovered in newly installed steam generators, and EIX last year opted for permanent closure and eventual decommissioning.

The agreement still needs approval from the California Public Utilities Commission.