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OPPD commits insurance payouts to adjust rates

OMAHA, Neb. -- The Omaha Public Power District board has committed to using any insurance payouts related to the shutdown at the Fort Calhoun nuclear power plant to adjust customer rates.

An OPPD news release says the board made that decision at its meeting on Thursday.

OPPD spokesman Mike Jones says the insurance is used to ease the financial impact of any outages at the Fort Calhoun plant. The plant initially was shut down for routine maintenance, but the Missouri River flooding in summer 2011 and several regulatory violations have forced it to remain offline.

Jones says the shutdown raised expenses for power. The insurance payoff is aimed at offsetting the financial impact.

He couldn't immediately supply dollar figures for either the district or the average residential customer.