Scrapped South Carolina Nuclear Reactors: Sorry, No Refunds

JENKINSVILLE, SC — Customers who helped foot the bill for a multibillion-dollar project to build two new nuclear reactors near Columbia will not see a dime in refunds even though the project was abandoned.

South Carolina Electric & Gas customers have been paying for the nuclear reactors since 2009, but SCE&G and state-owned Santee Cooper decided Monday to scrap the project at V.C. Summer Nuclear Station after years of delays and cost overruns.

The state Public Service Commission on Tuesday heard from executives with SCANA, the parent company of SCE&G. The executives said they will seek permission to recover the outstanding $5 billion in costs over 60 years. (For more information on this and other neighborhood stories, subscribe to Patch to receive daily newsletters and breaking news alerts. If you have an iPhone, click here to get the free Patch iPhone app.)

The project employed about 6,000 people, including 650 SCE&G workers.

Public Service Commission Chairman Swain Whitfield said the utilities' decision will "shatter lives, hopes and dreams."

SCE&G owns 55 percent of the project. The private utility must win state approval of its abandonment plans.

SCANA CEO Kevin Marsh has told investors that customers' rates won't rise for at least several years.

The project has been shrouded in doubt since primary contractor Westinghouse filed for bankruptcy protection earlier this year.

According to the utility's analysis, costs to finish the project would top $20 billion.

Photo credit: Jeffrey Collins/Associated Press