SAN CLEMENTE, Calif. (AP) — The state regulator overseeing the closure of Southern California’s San Onofre nuclear power plant says that a settlement outlining who pays for the work needs to be a better deal for consumers.
Michael Florio is the California Public Utilities Commission member handling the multibillion dollar proposed settlement.
He said Friday that the proposal, which the plant’s operators hammered out with consumer groups, “unfairly favors shareholders over consumers” and the commission would not consider approving it as is.
The settlement’s supporters have estimated it could cost utility customers about $3.3 billion, while saving them $1.4 billion in additional charges.
Southern California Edison closed San Onofre last year. The plant had been shut after a small radiation leak led to the discovery of extensive damage to tubing that carried radioactive water.
Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.