Update: SoCal Edison Closing San Onofre Nuclear Plant; Will Store Fuel Onsite

The San Onofre Nuclear Power Plant is seen on April 6, 2012.

scpr.org - by Ed Joyce - June 7, 2013

Edison International Chairman Ted Craver told reporters Friday that closing the troubled San Onofre Nuclear Generating Station would take decades, cost a lot, leave hundreds unemployed and result in spent nuclear fuel that would be stored "for a very long time" directly on the plant's current site.

According to Craver, the company has a $2.7 billion decommissioning fund that can be used for the closure of San Onofre. But the money to make up for the loss of the San Onofre plant will come from California ratepayers, company insurance claims, Edison shareholders and Mitsubishi Heavy Industries, which produced the equipment that led to the problems at San Onofre.

Craver's comments came in a conference call with reporters following Southern California Edison's announcement Friday morning that it was closing the plant permanently after concluding that the continuing uncertainty about when or if the plant might return to service was not good for customers or investors.

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