SCE&G Withdraws V.C. Summer Abandonment Proposal

The abandonment of reactors 2 and 3 at V.C. Summer Nuclear Station is resulting in about 5,100 lost jobs at the site and billions in sunken costs for the customers of the plant's co-owners, SCE&G and Santee Cooper.
The abandonment of reactors 2 and 3 at V.C. Summer Nuclear Station is resulting in about 5,100 lost jobs at the site and billions in sunken costs for the customers of the plant's co-owners, SCE&G and Santee Cooper.

Augusta, GA (WJBF) – South Carolina power company rethinking abandonment proposal.

In a late Tuesday afternoon development, SCANA, the parent company of SCE&G, released a statement withdrawing its petition to abandon the project in Fairfield County, SC.

According to a press release, the withdraw of the petition comes after concerns over the price tag of the project and how much money South Carolinians are currently paying for the project, and how much they’ll be paying in the future even if the project is left to collect dust.

“We have been meeting with governmental officials and various stakeholders since our announcement to abandon the new nuclear project,” said Kevin Marsh, SCANA Chairman and CEO.

“The purpose of ongoing meetings is to discuss their concerns and to explain the path that led us to the abandonment decision. While ceasing construction was always our least desired option, based on the impact of the bankruptcy of Westinghouse on our fixed price construction contract, the results of our evaluation of the cost and time to complete the project, and Santee Cooper’s decision to suspend construction, abandonment was the prudent decision.”

The company has faced fierce criticism after news of walking away from the project, after it along with company Santee Cooper, spent almost 10-billion dollars on the project.

Learn more about the abandonment proposal and what it means for South Carolina ratepayers by watching NewsChannel 6’s related coverage on the controversy:

 

 

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