South Carolina swapped engineering for litigation, construction designs for federal subpoenas and two nuclear reactors for a debt larger than the state government’s annual budget. It’s been just more than a year since Westinghouse Electric, the primary contractor on South Carolina’s nuclear project, filed for bankruptcy. Eight months have passed since the utilities behind the project — SCANA Corp. and Santee Cooper — abandoned the $9 billion they spent on a pair of unfinished reactors at V.C. Summer Nuclear Station. Since then, scores of emails, memos, letters, voicemails and secretive audits have exposed the concerns SCANA and Santee Cooper harbored for years. They have deflated the utilities’ narratives about the project’s demise. They have raised sharp concerns about the reactor design Westinghouse was peddling, and the company’s ill-fated attempt to run one of America’s first nuclear projects in decades. But what happens now? Who’s going to foot the bill? Will ratepayers get their money back? Is anyone going to jail? More to the point, what are South Carolina’s leaders doing about one of the biggest financial crises in state history?
Post & Courier 15th April 2018 read more »
A bill that will help keep nuclear power plants in New Jersey online, as well as guarantee higher costs for energy consumption, easily passed in both the Senate and Assembly last week. If signed by Gov. Phil Murphy, the bill allows Public Service Enterprise Group (PSEG) and Exelon, operators of two nuclear plants in Salem County, N.J., to bid on the energy market next month and commit to providing energy in 2021-2022, Kallanish Energy reports. The bill will allow PSEG to receive up to $300 million annually from the state, based on a formula that considers the nuclear plant outputs from 2016, to keep its nuclear plants operating for 10 years — pending a determination of need by the state Board of Public Utilities (BPU), ROI-NJ reported. As a result of the $0.004 per kilowatt-hour tariff added to consumer utility bills, ratepayers will pay up to $4 billion within a decade, according to the state Division of Rate Counsel.
Kallanish Energy 16th April 2018 read more »