2023-08-11 10:02:36 ET
Sempra Energy's ( NYSE: SRE ) Southern California Gas agreed to pay a $71M settlement over the 2015 leak at its Aliso Canyon natural gas storage facility, the California Public Utilities Commission said late Thursday.
The money will go to the Aliso Canyon Recovery Account, which will be used to address the impacts of the leak, including on local air quality, public health and customers.
SoCalGas also agreed not to seek to recover settlement costs from ratepayers or to bill ratepayers for other financial implications from the leak, including a $1.8B civil settlement reached in 2021 to resolve damage claims of more than 35K people.
The Aliso Canyon leak began in October 2015 and was not capped until mid-February 2016; nearly 100K tons of methane and other substances were released into the atmosphere over the four months, forcing thousands of residents from their homes.
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Sempra's SoCalGas to pay $71M settlement over Aliso Canyon leak