Tom Clements: 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
Ecowatch 1st August 2017 read more »
Looking to buy two half-finished nuclear reactors? It may be your lucky day. U.S. utility owner Scana Corp. dropped a plan to build two reactors at the V.C. Summer power plant in South Carolina on Monday after the projected total costs exceeded $20 billion. The cancelation of the project is another blow to the much-hyped (and thus far non-existent) nuclear renaissance in the U.S. As cheap natural gas squeezes the margins of nuclear generators, there’s only one company currently building reactors in the country—Southern Co., at its Vogtle plant in Georgia. So what’s a utility to do with two unfinished nukes laying around in South Carolina? Scana Chief Executive Officer Kevin Marsh said in a call with analysts Monday that he wants to keep the equipment in operating condition in case someone in China, India or the U.K. wants to buy it.
Energy Voice 2nd Aug 2017 read more »
There was a slow exodus at the Broad River Campgound near the V.C Summer Nuclear Station Monday as scores of construction workers who live in travel-trailers there began pulling up stakes and heading home. “Some will leave today. Some will leave tomorrow. Some will leave next week,” said D Melton, who owns the campground. “This is going to be devastating.” The workers are some of the estimated 5,000 people who until Monday were building two reactors at the Summer nuclear site near this Fairfield County town. On Monday, SCE&G and Santee Cooper announced plans to abandon the project because of escalating costs and because the main contractor, Westinghouse, filed for bankruptcy earlier this year.
The State 31st July 2017 read more »
With a multibillion-dollar nuclear project in South Carolina dead, the fate of America’s nuclear renaissance now rests on one utility: Southern Co. Scana Corp. dropped plans for two reactors Monday, leaving the two that Southern is building at the Vogtle plant in Georgia as the only ones under construction in the U.S. And even they are under threat: The utility had to take over management of the project from its bankrupt contractor Westinghouse Electric Co., and the plant is still years behind schedule and billions over budget. Now it must decide whether to finish them.
Bloomberg 1st Aug 2017 read more »