Mitsubishi Says Edison Claims $7.57B over California Nuclear Facility

Mitsubishi Heavy Industries Ltd. said the operator of the San Onofre nuclear plant is claiming $7.57 billion in damages related to the shutdown of the California facility.

The Tokyo-based company said in a filing that U.S. power generator Edison International had made the claim to the International Chamber of Commerce (ICC), which is arbitrating on the matter. Mitsubishi said it maintains that its liability is capped at around $137 million.

The claim against Mitsubishi Heavy in the prolonged dispute had earlier been estimated at “not less than $4 billion,” according to the statement.

Mitsubishi Heavy designed and supplied steam generators to San Onofre. Edison said in June 2013 that it would permanently shut both reactors at the plant after unusual wear was found on steam generator tubes.

Mitsubishi Heavy’s stock fell as much as 5.6 percent in Tokyo trading after the announcement and closed down 4.5 percent at 668.4 yen a share.

Topics California Claims