- 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 (NYSE: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.