Edison’s Damaged Nuclear Plant Costs Exceed $550 Million

Edison International (EIX) has spent $553 million on costs associated with its San Onofre nuclear power plant in Southern California that’s been shut for more than a year with damaged steam generators.

Costs for repairs and inspections climbed to $109 million and replacement power expenses rose to $444 million through March 31, Rosemead, California-based Edison said today in an investor slide presentation.

Edison is seeking federal permission to restart one of its reactors on June 1 at reduced capacity to avoid shaking damaged pipes. San Onofre, located 60 miles (97 kilometers) south of Los Angeles, has been shut since January 2012 after Edison found unusual wear on steam generator tubes.

State regulators opened a probe last year to decide whether Edison can cover the costs of its reactors, which produce about 2,200 megawatts of electricity. The steam generators were supplied by Tokyo-based Mitsubishi Heavy Industries Ltd. (7011)

To contact the reporter on this story: Mark Chediak in San Francisco at mchediak@bloomberg.net

To contact the editor responsible for this story: Susan Warren at susanwarren@bloomberg.net

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