Dive Summary:
- Southern California Edison (SCE) took out full-page ads in the Los Angeles Times and other local newspapers on Monday to explain to customers why it plans to charge them for the shutdown of the San Onofre Nuclear Generating Station (SONGS).
- The utility said the closure of SONGS was in the customers' "best interests," explaining that "if a utility asset must be retired before the end of its expected life, the utility recovers from customers its reasonable investment costs."
- SCE estimates the cost of the SONGS shutdown at $4.1 billion.
From the article:
Edison released the public letter because "it was important to make sure our customers know about how the utility business works, and why there is such a thing as 'cost recovery,'" said company President Ron Litzinger.