SCEcorp Settlement Rejected: An administrative law judge rejected the Rosemead-based company's proposed settlement with state regulators to speed up depreciation of $2.7 billion invested in its nuclear plant at San Onofre. Company spokesman Jack Horne, supervisor of investor relations, said SCEcorp was surprised at the action and that the decision will have no effect unless it is formally approved by the California Public Utilities Commission. Judge Janet Econome said the nuclear plant depreciation settlement should be part of an electric industry restructuring plan being considered by the commission. Horne said under the agreement between SCEcorp and the commission's Division of Ratepayer Advocates, SCEcorp would accept a lower rate of return on the San Onofre plant as a trade-off for faster depreciation of the company's investment in the plant. SCEcorp owns 80% of the San Onofre plant; San Diego Gas & Electric Co. owns the rest. The commission is scheduled to consider Econome's decision in November.
Times Staff and Wire Reports
Copyright © 2019, Los Angeles Times