Local News in Brief : Edison Given Rate Boost
The average residential customer of Southern California Edison Co. will have to pay an extra 8.5 cents per month beginning later this year to cover part of Edison’s investment in a nuclear plant in Arizona, the state Public Utilities Commission said Wednesday.
The increase represents the first in a scheduled 10-year phase-in of rates to recover most of the utility’s investment in Unit 3 of the Palo Verde nuclear plant. Previous one-time costs attributed to the plant will bring the total 1988 rate increase to about 24 cents a month for a typical residential customer, the PUC said.
Edison owns 16% of the Palo Verde plant and has invested $1.54 billion. The PUC previously ruled that Edison could recover all but $50 million of its investment by raising rates to customers. Unit 3 began operating Jan. 20.
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