Utility customers win $775 million back from San Onofre deal criticized as lopsided against them

Plant owners and consumer attorneys have struck a bargain in the long-running dispute over who pays for the failure of the San Onofre nuclear plant.

Southern California Edison and San Diego Gas & Electric agreed to shave $775 million from the multibillion-dollar pact that allowed them to charge millions of ratepayers for the plant in northern San Diego County, which shut down in January 2012 amid a radiation leak.

For 6.4 million customers across Southern California, the savings will total $121 on the average bill over four years.

The agreement was announced Tuesday after a settlement conference in San Francisco between utility and consumer attorneys. It would supersede a 2014 plan approved by regulators that imposed $3.3 billion of the estimated $4.7 billion in costs related to the San Onofre Nuclear Generating Station failure on customers, as opposed to utility shareholders.

Read entire article at: LATimes.com