California Nuclear Power Plants

 

 

Nuclear Decommissioning Trust Funds

The purpose of the Nuclear Decommissioning Trust Funds is to spread the high cost of decommissioning to ratepayers over the life of a nuclear plant, and take advantage of compound interest on the Trust Fund’s investments.   

The CPUC directs the utilities to collect a regular Decommissioning fee on customers’ monthly electric bills for Edison / SDG&E’s San Onofre Nuclear Generating Station (SONGS – 30 years old) and PG&E’s Diablo Canyon (28 years old). The expected life of a nuclear power plant is 40 years.
 

  • $5.2 billion of ratepayer collection is currently invested with the Trust Funds.
     
     
     
  • At current liquidation value, combined Decommissioning Trust Funds are ~90% funded.
     
     
     
  • The Trust Funds are currently invested in equities (60%) and investment grade fixed income securities (40%). 
     

 

See information below by utility.  

 

PG&E

Triennial Review of Decommissioning Trust Fund

Every 3 years the CPUC reviews the investor owned utilities proposed costs required for decommissioning California’s nuclear power plants.   

 

PG&E Nuclear Power Plants

Diablo Canyon Power Plant  

PG&E proposes to retire its Diablo Canyon Nuclear Power Plant, located near San Luis Obispo, when its licenses expire in 2024 / 2025.  

 

Humboldt Bay Power Plant   

Humboldt Bay Power Plant, located south of Eureka, California, was permanently closed in 1983 and was placed in SAFSTOR mode (that is, Safe Storage - the process to safely maintain the site or portions of the site according to the Nuclear Regulatory Commission specifications before actively beginning decommissioning).  Humboldt Bay is now in the decommissioning phase.   

 

Edison

Triennial Review of Decommissioning Trust Fund

Every 3 years the CPUC reviews the investor owned utilities proposed costs required for decommissioning California’s nuclear power plants.  

 

Edison Nuclear Power Plant

San Onofre Nuclear Generating Station (SONGS)

On January 9, 2012, Unit 2 of SONGS was shut down for scheduled maintenance. On January 31, 2012, Edison also shut down SONGS Unit 3 due to a stream generator tube leak. Ratepayers continue to pay for the power plant even though it has not been in operation and serving customers since January. SDG&E is a minority owner of SONGS.