EIX: The Scope of the Reopening of the SONGS Settlement is Narrow

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Market Pricing (5/12/2016): $71.94/share; ST-Target: $90/share; NIV: $157/share

  • Much to our relief, it seems that the scope of the reopening of the San Onfre Nuclear Generating Station (SONGS) settlement agreement is limited to two issues:
    • Did the alleged ex parte communications between the former president of the CPUC and SCE in anyway shape the SONGS settlement agreement, particularly in a manner that is illegal, immoral or in favor of one party or another?
    • How did the $25MM university research grant on the study of greenhouse gas emissions come about and why was it part of the settlement agreement?
  • In both regards, we are of the belief that there was nothing untoward and that there were no hidden benefits to SCE at the expense of rate payers.

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