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The cost of the ongoing emergency shutdown at San Onofre Nuclear Generating Station has topped $400 million for plant operator Southern California Edison, new disclosures reveal.

Edison’s costs thus far include $102 million for inspection and repair of defective steam generators, one of which leaked a small amount of radioactive steam in January 2012, leading to the shutdown. Another $300 million has been spent on acquiring replacement power from other sources.

A warranty provided by Mitsubishi Heavy Industries, the generators’ manufacturer, caps their liability at $138 million. So far, Mitsubishi has paid out $45 million of the $104 million in claims submitted by Edison.

Despite the problems at San Onofre, Southern California Edison still posted a 2012 4th quarter profit of $2.56 a share, as reported February 26, though it was offset by another of parent company Edison International’s businesses, Edison Mission Energy, which booked a $4.07 per share loss. The losses actually represent an improvement over previous quarters, however, and Edison’s stock rose from $46.09 at yesterday’s open to $47.14 as of midday February 27.

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To this $402 million for repairs and replacement power, one has to add the $739 million which Edison collected for SONGS as part of its CPUC-authorized 2012 "revenue requirement" for SONGS, as well as the $253 million collected by SDG&E as part of its CPUC-authorized 2012 "revenue requirement." $1.396 billion for one year's worth of an inoperable plant starts to make it clear why Southern California electricity bills are so high.

Feb. 27, 2013

Somebody scraped off the Obama/Biden bumper sticker from my car earlier this week, so I'm replacing it with a bright yellow message with a drawing of "The Scream" that reads "SHUT DOWN SAN ONOFRE." Plus, I want a refund.

Feb. 28, 2013

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4S Ranch Allied Gardens Alpine Baja Balboa Park Bankers Hill Barrio Logan Bay Ho Bay Park Black Mountain Ranch Blossom Valley Bonita Bonsall Borrego Springs Boulevard Campo Cardiff-by-the-Sea Carlsbad Carmel Mountain Carmel Valley Chollas View Chula Vista City College City Heights Clairemont College Area Coronado CSU San Marcos Cuyamaca College Del Cerro Del Mar Descanso Downtown San Diego Eastlake East Village El Cajon Emerald Hills Encanto Encinitas Escondido Fallbrook Fletcher Hills Golden Hill Grant Hill Grantville Grossmont College Guatay Harbor Island Hillcrest Imperial Beach Imperial Valley Jacumba Jamacha-Lomita Jamul Julian Kearny Mesa Kensington La Jolla Lakeside La Mesa Lemon Grove Leucadia Liberty Station Lincoln Acres Lincoln Park Linda Vista Little Italy Logan Heights Mesa College Midway District MiraCosta College Miramar Miramar College Mira Mesa Mission Beach Mission Hills Mission Valley Mountain View Mount Hope Mount Laguna National City Nestor Normal Heights North Park Oak Park Ocean Beach Oceanside Old Town Otay Mesa Pacific Beach Pala Palomar College Palomar Mountain Paradise Hills Pauma Valley Pine Valley Point Loma Point Loma Nazarene Potrero Poway Rainbow Ramona Rancho Bernardo Rancho Penasquitos Rancho San Diego Rancho Santa Fe Rolando San Carlos San Marcos San Onofre Santa Ysabel Santee San Ysidro Scripps Ranch SDSU Serra Mesa Shelltown Shelter Island Sherman Heights Skyline Solana Beach Sorrento Valley Southcrest South Park Southwestern College Spring Valley Stockton Talmadge Temecula Tierrasanta Tijuana UCSD University City University Heights USD Valencia Park Valley Center Vista Warner Springs
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