31 Jul '17, 7pm

South Carolina Utility Scraps $14 Billion Nuclear Project

South Carolina Electric & Gas Company (SCE&G) announced Monday that it will cease construction of the two new nuclear units at the V.C. Summer Nuclear Station. The decision to abandon the V.C. Summer project is of monumental proportion and is a full admission that pursuit of the project was a fool's mission right from the start. The damage that this bungled project has caused to ratepayers and the state's economy must be promptly addressed by SCE&G, Santee Cooper and regulators and all effort must be made to minimize that damage. SCE&G and Santee Cooper must now take on a large part of the project's cost. To reduce the on-going blow to SCE&G ratepayers already paying 18 percent of the bill just to pay for project financing, it's time for money to be refunded as it was collected from them under the false pretense that advance payment for the nuclear project was sound. In pr...

Full article: https://www.ecowatch.com/summer-nuclear-station-canceled-...

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