TEXT: California Nuclear Plants Face Uncertainties Says S&P Report

Many factors are converging to create additional risk for owners of California nuclear plants during the relicensing process, according to an article published today on RatingsDirect on the Global Credit Portal. The Ground Shaking Reality For California's Nuclear Power notes that, in the wake of the Fukushima disaster, California is likely to carefully evaluate relicensing its two nuclear power plants.

At most, utilities that own nuclear generation facilities have two to four years to develop alternatives to nuclear power if the plants are not relicensed, said Standard & Poor's credit analyst Anne Selting.

The reports delineates three possible outcomes of the current risk scenarios, the most serious of which is the possibility that a voter initiative now gathering signatures qualifies for the 2012 state ballot.

The report is available to subscribers of RatingsDirect on the Global Credit Portal at www.globalcreditportal.com. If you are not a RatingsDirect subscriber, you may purchase a copy of the report by calling (1) 212-438-7280 or sending an e-mail to research_request@standardandpoors.com. Ratings information can also be found on Standard & Poor's public Web site by using the Ratings search box located in the left column at www.standardandpoors.com. Members of the media may request a copy of this report by contacting the media representative provided.