A former head of US power utility Scana Corporation has pleaded guilty in federal court to conspiracy to commit mail and wire fraud in not disclosing deep problems with a nuclear power project. Kevin Marsh, who was chairman and chief executive of the South Carolina company, oversaw his company’s involvement in a failed project to build two AP1000 pressurised water reactors at the Virgil C Summer nuclear power plant in the state. With the guilty plea, Marsh admitted that he intentionally defrauded ratepayers by giving over-optimistic assessments of progress on the scheme so that his company could obtain rate increases from Scana’s customers and qualify for up to $2.2bn in tax credits. After the scheme broke ground in March 2013, it suffered delays and cost overruns. By late 2016, according to the Department of Justice (DOJ), Marsh knew that efforts by engineer Westinghouse to improve the pace and productivity of the project were “woefully inadequate”. Marsh learned that at least one unit under construction was in danger of not being complete and producing power by 31 December, 2020, a deadline that Scana had to meet to secure federal tax credits worth up to $2.2bn.
Global Construction Review 26th Feb 2021 read more »
Republicans criticizing Haaland’s nomination have ties to fossil fuels. The congresswoman has faced hostile questioning from senators during her confirmation for interior secretary. Some of them are personally invested in fossil fuels.
Guardian 26th Feb 2021 read more »