SCE&G Wants 60-Year Plan to Pay Off Failed Reactor Project

SCANA and SCEG presented their case to the public service commission on why they are deciding to abandon construction of two nuclear units in Fairfield county

Columbia, SC (WLTX) - SCE&G answered questions from the Public Service Commission on why they decided to pull out of the nuclear plant project in Fairfield County on Tuesday.

The meeting comes on the same day that Governor McMaster is calling for lawmakers to hold hearings on the controversial decision to shut the project down.

"This increase in cost was approximately three times the estimate of the additional cost to complete the units that Westinghouse had provided SCE&G the time of the bankruptcy filing," said SCANA CEO Kevin Marsh.

With Westinghouse going under and Santee cooper suspending construction, SCE&G said they had no choice but to pull out of the project.

Leslie Minerd from Columbia has been against the project since day one. She just wants accountability.

"There's nobody going to come around and bail them out. If these were honorable people and they would take responsibility and say we made a mistake, we shouldn't have done this, we're sorry, we're wrong," said Minerd.

After abandoning units two and three of the project, the group was left with $4.9 billion. With Toshiba, the parent company of Westinghouse, picking up part of the tab, customers are left with $2.2 billion  to pay.

Jimmy Addision, SCANA’s CFO, says the plan they presented may lessen the blow on customers.

"To mitigate costing increases to customers, SCE&G proposes to float back the customers the net value of the Toshiba guarantee settlement through a decrement rider. The annual amount would set back any rate increase to customers due to the abandonment or the purpose of a replacement generation during that year," said Addison.

The proposed plan would stretch the course over 60 years to limit the increase of costs on your bill.

Fairfield County Senator Mike Fanning says that he's not satisfied with the plan.

"We want to find folks to hold accountable, we want to see heads roll, we want to see that this betrayal that we feel someone is identifying what the problem was and a solution. We will not give up based on what we seen today," said Fanning.

SCANA officials say that workers are still on site working to stabilize the area and make it safe.

© 2017 WLTX-TV


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