Power utility South Carolina Electric and Gas will meet with state regulators Tuesday morning as they its officials lay out plans to scrap two nuclear reactors it had been building in Fairfield County.
SCE&G will brief the state Public Services Commission at 10 a.m. as it seeks approval to formally abandon work on two new reactors at the V.C. Summer Nuclear Generating Station in Jenkinsville. The company’s hand was forced when its partner in the project state-owned utility Santee Cooper decided to end its involvement in any new construction on Monday.
“We arrived at this very difficult but necessary decision following months of evaluating the project from all perspectives to determine the most prudent path forward,” Kevin Marsh, the CEO of SCE&G’s holding company SCANA said. “Many factors outside our control have changed since inception of this project… Ultimately, our project co-owner Santee Cooper’s decision to suspend construction made clear that proceeding on our own would not be economically feasible. Ceasing work on the project was our least desired option, but this is the right thing to do at this time.” [Read more…]