SCE&G could abandon V.C. Summer plant construction altogether - wistv.com - Columbia, South Carolina

SCE&G could abandon V.C. Summer plant construction altogether

(Source: WIS) (Source: WIS)
COLUMBIA, SC (WIS) -

South Carolina Electric and Gas officials explained Wednesday that they have several options in regard to Fairfield County's unfinished nuclear reactors. One of those options includes abandoning the project altogether.

SCE&G CEO Kevin Marsh told officials with the Public Service Commission that the project, which is only 33 percent complete after several years, that his preference is to complete the project, but abandonment remains possible. 

SCE&G and partner Santee Cooper are developing a strategy for completion of the reactors under construction at the V.C. Summer nuclear site in Jenkinsville.

That plan follows last month’s declaration of bankruptcy by Westinghouse Nuclear, the lead contractor for the project, and increasing uncertainty about the survival of Westinghouse parent company Toshiba Corporation.

In a new report, Toshiba projects a $9.2 billion loss for the fiscal year that ended in March.

Westinghouse is in the process of constructing four of its AP1000 reactors in Georgia and South Carolina.

Critics want changes in or repeal of the state’s 2007 Base Load Review Act.

The law allows utilities to charge ratepayers for construction costs long before projects are completed.

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