Investment Banking Firm: Fears of significant delay in restart of San Onofre nuclear plant — Stock downgraded to ‘underperform’

Published: February 14th, 2013 at 5:02 pm ET
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Title: San Onofre: Mitsubishi told to hand over nuclear plant report
Source: LA Times
Author: Abby Sewell
Date: Feb. 14, 2013

The U.S. Nuclear Regulatory Commission has asked Mitsubishi Heavy Industries to hand over a redacted version of a proprietary report on equipment issues at the now-shuttered San Onofre nuclear plant.

The commission, which has already reviewed the full report, said it intends to make the redacted version public.

Sen. Barbara Boxer (D-Calif.) and U.S. Rep. Ed Markey (D-Mass.) obtained a leaked copy of the report and wrote to the head of the NRC last week alleging that the report “indicates that Southern California Edison (SCE) and MHI were aware of serious problems with the design of San Onofre nuclear power plant’s replacement steam generators before they were installed.” [...]

Also Thursday, investment banking firm Jefferies & Co. downgraded Edison stock from “hold” to “underperform” based on fears that the NRC might “significantly delay” restart of the plant and could find Edison at fault in its investigation. [...]

See also: AP: U.S. Senator wants probe after reading confidential report on sickly California nuke plant -- Shows they knew about San Onofre problems beforehand

Published: February 14th, 2013 at 5:02 pm ET
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14 comments

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