POST Online Media Lite Edition



 

Costs related to Aliso Canyon leak reach $665 million

Staff writer |
Southern California Gas announced that costs related to the leak at the Aliso Canyon natural gas storage facility have reached an estimated $665 million.




Southern California Gas noted in an earnings report that it has already booked $660 million in costs from insurance.

The utility told the Securities and Exchange Commission that it had "at least four types of insurance policies that it believes will cover many of the current and expected claims, losses and litigation associated with the natural gas leak at Aliso Canyon."

Those policies, the utility said, have a combined limit available "in excess of $1 billion."

The leak forced thousands of people from their homes in the Porter Ranch community near the Aliso Canyon facility. Southern California Gas plugged the leak February 18 after the storage facility seeped gas for four months.


What to read next

Second Shell's incident in two days, company to cut 400 jobs
Celebrity Cruises and Canyon Ranch in spa partnership
Pacific Gas & Electric to close California's last nuclear plant