Many electric customers in South Carolina apparently do not realize their power bills are subsidizing debt from a failed $9 billion nuclear expansion project which was abandoned last year, according to a new poll.
The Clout Research poll was done for the conservative advocacy group South Carolina Club for Growth. According to its findings, 40 percent of those surveyed statewide said that they are not aware of the abandonment of the VC Summer expansion project in Fairfield County last year.
The project jointly owned by Cayce utility SC Electric & Gas and state-owned Santee Cooper ended in July 2017 when both companies realized the project was financially unattainable. That left electric customers on the hook for debt from the failed expansion. Legislators temporarily reduced the amount SCE&G could charge customers this summer, although the permanent decision will be made by the state Public Service Commission later this year. [Read more…]