Nov 20, 2014 1:26 PM by News Staff
LOS ANGELES (AP) - California regulators have approved a settlement to divide billions of dollars in costs from the closed San Onofre nuclear power plant.
Consumers will get refunds and credits of about $1.4 billion. But they will pay about $3.3 billion in costs over 10 years, including for power purchased after the plant shut down.
The vote by the California Public Utilities Commission Thursday was 5-0.
At issue has been who should take the financial hit for the plant's premature demise - company shareholders or customers.
San Onofre shut down for good last year after a long fight over whether it was safe to restart.
The settlement stems from negotiations among operator Southern California Edison, minority owner San Diego Gas & Electric Co. and consumer advocates. Critics argued that the deal shortchanged ratepayers.
Copyright 2014 The Associated Press. All rights reserved.
16 hours ago