US Settles Consumers Energy Nuke Waste Suit For $120M

Law360, New York (July 15, 2011, 7:32 PM EDT) -- Consumers Energy Co. said Friday that the U.S. has agreed to pay $120 million to settle a suit brought by the Michigan-based nuclear plant operator over the government's failure to set up a nationwide nuclear waste storage facility.

The $120 million is being paid from the government's nuclear waste fund as a credit toward Consumers Energy's one-time $163 million fee obligation to the fund, the company said in a filing with the U.S. Securities and Exchange Commission.

“Consumers Energy anticipates refunding those amounts to customers” that...
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