San Diego Business Journal

SDG&E Says San Onofre Shutdown Could Leave It With Charge Between $30M and $110M

Monday, June 10, 2013

San Diego Gas & Electric Co. said it could take an after-tax charge of between $30 million and $110 million related to its investment in the San Onofre Nuclear Generating Station, the utility and parent company Sempra Energy said in a recent securities filing.

Southern California Edison, the majority owner of the nuclear plant, announced June 7 that it will permanently close the plant, citing uncertainty over when or if the plant would return to service. SDG&E owns 20 percent of the plant.

SDG&E said it could record the charge in the second quarter, and indicated a future charge was possible.

The San Diego utility said the amount of the charge will depend on the amount SDG&E is able to recover from ratepayers. That question has yet to be answered. The power company’s regulator, the California Public Utilities Commission, is scheduled to meet June 27 to consider the issue.

— SDBJ Staff Report