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Edison International's CEO Discusses Q1 2012 Results - Earnings Call Transcript

Stocks in this article: EIX

Let me now turn to our San Onofre Nuclear Generating Station. SCE is continuing to assess the causes of the steam generator leak discovered January 31 at the Unit 3, working together with the NRC, the manufacturer, and other consultants and industry experts. Over the last 3 months, we have been conducting a battery of tests and studying the phenomenon causing the tube wear. We have identified some unusual wear in approximately 1% of the nearly 39,000 steam generator tubes that transfer heat to produce the steam, which drives the turbines and generates the electricity. While tube wear is to be expected, we are taking this very seriously since it is occurring in the newly installed steam generators. When we are satisfied that we sufficiently understand the mechanisms and the causes of the wear, we will seek confirmation of our remediation plan with the NRC. The plan will likely follow standard industry practice of plugging, stabilizing and removing from service all affected tubes along with some other operational changes.

Read the rest of this transcript for free on seekingalpha.com

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