The plan, called the Post-Shutdown Decommissioning Activities Report (PSDAR) says the 20-year decommissioning project is expected to begin in early 2016 and cost $4.4 billion. Cost estimates include the costs to decommission units 2 and 3, manage and store the used nuclear fuel and restore the site for future use, subject to an easement agreement with the U.S. Navy, which owns the land.
The decommissioning trust funds now contain about $4.1 billion. Based upon future earnings, anticipated cost escalation and updated cost estimate, the decommissioning is fully funded, SCE said. Any unused funds will be returned to customers at the end of decommissioning. SCE plans to submit the PSDAR and supporting documents ahead of the June 2015 deadline.
SCE announced in June 2013 that it would retire the dual-unit nuclear plant.
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