Jeff Smith 3 p.m., March 27
Regulator points finger at Edison, Mitsubishi
But the two companies continue to blame each other over San Onofre
The Nuclear Regulatory Commission has issued a notice of non-conformance to Mitsubishi Heavy Industries, manufacturer of steam generators at the now-closed San Onofre nuclear plant. The regulatory commission has given a similar warning to Southern California Edison, the utility that owns most of San Onofre. The regulator says Edison failed to identify faulty steam generators.
Meanwhile, Edison and Mitsubishi continue to point fingers at each other. Edison blames Mitsubishi for faulty tube design. Mitsubishi denies that, and says Edison increased the output of its steam generators -- essentially running the horse too hard.
Wall Street doesn't seem concerned. Edison stock has risen from $45 to $47 this month. The Street probably expects that when all is said and done, Edison and San Diego Gas & Electric customers will get stuck with the bulk of the bill.
More like this:
- Edison calls for arbitration against Mitsubishi over faulty generators at San Onofre — Oct. 18, 2013
- Nuclear Regulatory Commission finds fault with Mitsubishi's calculations on failed San Onofre generators — Sept. 23, 2013
- San Onofre just one of many troubled nuclear plants in 2012 — March 11, 2013
- San Onofre restart decision may come in March, repair engineers testing wrong tubes — Dec. 18, 2012
- State May Launch San Onofre Probe — June 25, 2012