A state House committee this week will look at stopping South Carolina Electric & Gas (SCE&G) from passing on any more costs to its customers for the abandoned V.C. Summer nuclear expansion project.
According to The State newspaper, the House proposal in its present form would not require the utility to repay its customers the roughly $1.7 billion they have already contributed towards the Fairfield County site through higher power bills.
The proposal is the legislature’s first attempt to try and help SCE&G’s 700,000 customers who have been hit with nine rate increases to pay for the now-failed project.
A typical SCE&G’s residential customer pays nearly 18 percent of their monthly power bills — on average $27 each month — for the abandoned reactor construction project. SCE&G and partner state owned utility Santee Cooper halted construction on July 31.
Meanwhile, reports suggest the CEO of SCE&G’s parent company SCANA may be on his way out. The State newspaper reports Kevin Marsh was ousted by SCANA’s board in a Saturday meeting, citing anonymous sources. A company spokesman denied that Marsh was fired, but did not answer follow-up questions if the CEO had retired or resigned. The CEO of the project’s partner Santee Cooper has already retired from the agency in the failure’s aftermath. Lonnie Carter will receive an $800,000 annual buyout for the next 20 years.