SDG&E and COR provided the estimate of monetary value of their claims to ICC
SDG&E and COR provided the estimate of monetary value of their claims to ICC
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Mitsubishi Heavy Industries, Ltd.
On July 22, 2014, Mitsubishi Heavy Industries, Ltd. (MHI) announced that on July 16, 2014 (US time), San Diego Gas & Electric (SDG&E) and City of Riverside (COR) that are minority co-owners of SONGS (Note 1) submitted pleadings to ICC, in which they set forth their claims and request for relief.
MHI announced in the same statement that (concerning the amount claimed in the pleadings), “Both SDG&E and COR have adopted Southern California Edison (SCE)’s and Edison Material Supply (EMS) (Note 2)'s claim that the Claimants' are entitled to damages in an amount of not less than $4 billion (approximately 400 billion yen). However, neither SDG&E nor COR has identified whether or the extent to which their damage claims will increase the total amount claimed by Claimants.”
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Following the receipt by ICC of their pleadings, ICC requested both SDG&E and COR to provide an estimate of the monetary value of their unquantified claims.
In response to such request, both SDG&E and COR advised ICC that their estimates of monetary value of its claim were based upon their percentage ownership shares of SONGS, and were each included in the earlier claim value of “not less than $4 billion dollars.” Thus, SGD&E, which owns a 20% share of SONGS, estimates the monetary value of its claim at “not less than $800M (approximately 80 billion yen)” and COR, which owns 1.8% share of SONGS, estimates the monetary value of its claim to be “not less than $71.6M (approximately 7.16 billion yen)” .
Note.1 SONGS is co-owned by SCE (78.2%), San Diego Gas & Electric Company (20%), and City of Riverside (1.8%).
Note.2 Edison Material Supply LLC is a wholly-owned subsidiary of SCE.
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Following the receipt by ICC of their pleadings, ICC requested both SDG&E and COR to provide an estimate of the monetary value of their unquantified claims.
In response to such request, both SDG&E and COR advised ICC that their estimates of monetary value of its claim were based upon their percentage ownership shares of SONGS, and were each included in the earlier claim value of “not less than $4 billion dollars.” Thus, SGD&E, which owns a 20% share of SONGS, estimates the monetary value of its claim at “not less than $800M (approximately 80 billion yen)” and COR, which owns 1.8% share of SONGS, estimates the monetary value of its claim to be “not less than $71.6M (approximately 7.16 billion yen)” .
Note.1 SONGS is co-owned by SCE (78.2%), San Diego Gas & Electric Company (20%), and City of Riverside (1.8%).
Note.2 Edison Material Supply LLC is a wholly-owned subsidiary of SCE.