A complaint filed with California regulators says Southern California Edison boosted the cost of replacing defective steam generators at the troubled San Onofre nuclear plant.
The Alliance for Nuclear Responsibility complaint says the utility violated federal securities law by manipulating inflation calculations so Edison could recover more money from ratepayers.
The Los Angeles Times reported the complaint filed Wednesday with the state Public Utilities Commission claims Securities and Exchange Commission filings show costs may have been hiked up to $100 million.
The twin-reactor plant in northern San Diego County has been shut down more than year. A tiny radiation leak led to the discovery of damage to hundreds of tubes that carry radioactive water.
The PUC is already investigating the costs of the outage.
BP Oil Spill Claims Chief Braces for Surge in Filings
N.Y. Regulator Issues ‘Cease and Desist’ Order to Car-Sharing Firm RelayRides
Tornadoes Spin Through Texas Towns After Dark, Killing Six
U.S., European Retailers Divided on Safety Plan for Bangladesh Factories
Government to Share Cyber Security Information with Private Sector
50 Top Apps for Independent Agents
Medical Liability Market Profitable But Deteriorating Results Expected: Fitch
Three Insurance Companies Placed in Liquidation in Illinois
Sign up to receive insurance news alerts!
