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Mitsubishi Heavy Says Edison Claims $7.57 Billion in Damages (San Onofre NGS)
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 Californian 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.
http://www.bloomberg.com/news/articles/2015-07-28/mitsubishi-heavy-says-edison-claims-7-57-billion-in-damages
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.
http://www.bloomberg.com/news/articles/2015-07-28/mitsubishi-heavy-says-edison-claims-7-57-billion-in-damages
Assuming a legal victory (no sure thing at that dollar amount), the proceeds are to be split evenly between the utilities' shareholders and the ratepayers.
