COLUMBIA, S.C. (AP) – The Latest on the abandonment of a nuclear energy project in South Carolina (all times local):
Customers who have helped foot a multibillion-dollar bill for two new nuclear reactors won’t see a dime in refunds even though the project has been abandoned.
South Carolina Electric & Gas customers have been paying for the nuclear reactors since 2009. SCE&G and state-owned Santee Cooper decided Monday to scuttle their project at V.C. Summer Nuclear Station north of Columbia after years of delays and cost overruns.
Executives with SCE&G’s parent company, SCANA, told state regulators Tuesday they will seek permission to recover the outstanding $5 billion in costs over 60 years.
The project employs about 6,000 people. That includes 650 SCE&G workers.
Public Service Commission Chairman Swain Whitfield says the utilities’ decision will “shatter lives, hopes and dreams.”
South Carolina regulators will question plans to end construction of two nuclear reactors that customers have already paid billions to build.
The state Public Service Commission will hear Tuesday from executives with SCANA, the parent company of South Carolina Electric & Gas. Both SCE&G and state-owned Santee Cooper decided Monday to scuttle the project at V.C. Summer Nuclear Station north of Columbia.
SCE&G owns 55 percent of the project. The private utility must win state approval of its abandonment plans.
SCANA CEO Kevin Marsh has told investors that customers’ rates won’t rise for at least several years.
The project has been shrouded in doubt since primary contractor Westinghouse filed for bankruptcy protection earlier this year.
According to the utility’s analysis, costs to finish the project would top $20 billion.
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