SCE&G pulling out of nuclear reactor construction

 SCE&G said Monday it is abandoning nuclear rector construction at the VC Summer station in Fairfield County.

The increasing cost for the project, delays in construction and the declaration of bankruptcy by Westinghouse, a reactor contractor – are all listed as reasons why SCE& G has backed out of the project.  Santee-Cooper power is also pulling out of the building of the reactors.

Construction of the two reactor units began in 2012. The cost was around $3 billion over budget at $14 billion. It was also about five years behind schedule.

SCE&G is part of SCANA, based in Cayce.

After reviewing the Fairfield County nuclear project,  the company concluded that completing the two nuclear reactors “would be prohibitively expensive,” SCE&G stated in a news release.

The project has been in the works for nine years. An estimated 5,000 people will lose their jobs as a result of the termination of the project.

“We arrived at this very difficult but necessary decision following months of evaluating the project from all perspectives,” SCANA Chairman and CEO Kevin Marsh said in the release.

SCE&G Photo