The Milwaukee utility, We Energies, reached a settlement that will return $31 million to its customers from Uncle Sam. The settlement money is expected to be paid to We Energies by the end of March. The utility's claim was linked to funds it spent to build concrete casks outside the Point Beach nuclear plant, where spent nuclear fuel from the Point Beach reactors is stored.
Through a surcharge on monthly electric bills that ended when Point Beach was sold, We Energies ratepayers paid $215 million into an $18 billion federal government fund that would have been used to pay for the opening of Yucca Mountain. The government had proposed to open a repository at Yucca Mountain in Nevada, but that project was canceled two years ago.
We Energies continues to buy the electricity generated at Point Beach. The plant was sold in 2007 and is now operated by Florida-based NextEra Energy Resources. (JSOnline, 2/20/2011)