A multibillion-dollar mess over partially-built nuclear plants in South Carolina could impact whether Virginia goes forward with a pricy new reactor of its own. Two South Carolina energy companies recently decided to abandon construction of two unfinished nuclear reactors over delays and their high costs, a move that leaves ratepayers there on the hook for billions of dollars with nothing to show for it. The failure in South Carolina to make new nuclear work could make it harder for Virginia’s largest electric utility, Dominion Energy, to move forward with a new reactor it has been considering for years and already spent millions on. The proposed plant, known as North Anna 3, has a sky-high price tag — one state regulator last year calculated it to be about $25 billion — and would significantly increase customer’s electric bills. But Dominion has argued it’s an option worth considering, as nuclear energy provides reliable, carbon-free energy.
US News 2nd Aug 2017 read more »
Power Engineering 3rd Aug 2017 read more »
Let it be written that environmentalists didn’t kill the nuclear power industry, economics did. South Carolina Electric and Gas Co. and partner Santee Cooper abandoned work on two new nuclear reactors this week, not because of public protests, but because the only way to pay for them was to overcharge customers or bankrupt both companies. The decision comes after the main contractor, Westinghouse, has completed a third of the work at the V.C. Sumner Nuclear Station. Of course, the project has already bankrupted Westinghouse due to missed deadlines and costs spiraling out of control. Westinghouse parent Toshiba Corp. had to pay $2.7 billion to get out of its contract. The project was supposed to cost only $5.1 billion, but to actually finish the work would have cost $11.4 billion. By abandoning work, the utilities said they will save about $7 billion in charges they would have had to pass on to customers. That leaves only one new nuclear project under construction in Georgia, where Westinghouse has also gone over budget and missed deadlines. Georgia Power says it has taken over construction of the two new reactors at the Vogtle plant through Southern Nuclear.
Houston Chronicle 3rd Aug 2017 read more »
Georgia Power estimates net additional capital costs of $1.0-1.7 billion to complete the two AP1000s under construction at Vogtle, it said yesterday. It expects to make its recommendations on whether or not to proceed with the project to the Georgia Public Service Commission (PSC) later this month.
World Nuclear News 3rd Aug 2017 read more »