Public hearing set on proposed cost-sharing agreement for closin - CBS News 8 - San Diego, CA News Station - KFMB Channel 8

Public hearing set on proposed cost-sharing agreement for closing San Onofre

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COSTA MESA (CNS) - The state Public Utilities Commission says it will hold an informational meeting June 16 on the proposed $3.3 billion costs settlement tied to the shutdown of the San Onofre nuclear power plant.

The proposed deal would make customers of Southern California Edison, which owns 78 percent of the plant, and San Diego Gas & Electric Co., which owns 20 percent, responsible for $3.3 billion in costs for replacement power.

Initially, the utilities wanted about $4.7 billion from ratepayers, but ratepayers were let off the hook for more than $1 billion in costs associated with defective steam generators at the plant.

SCE announced a year ago that it had decided to permanently close the plant and decommission the remaining two reactors that were operating at the time.

Under other provisions of the proposed settlement:

-- SCE customers would get about $480 million in refunds by the end of the year, and SDG&E customers would get refunds of about $121 million;

-- SDG&E and SCE would refund all money collected from customers for replacement steam generators;

-- the utilities would refund any money collected in excess of actual operating costs after Jan. 1, 2013; and

-- customers would get a share of any proceeds recovered from Mitsubishi Heavy Industries, which made the defective steam generators, and Nuclear Energy Insurance Limited.

The purpose of the meeting, which will be overseen by an administrative law judge, is to give the public a chance to review the settlement proposal and to gather input from residents who live near the plant. The June 16 meeting is set for 4 p.m. at the Costa Mesa Neighborhood Community Center at 1845 Park Ave.

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