WASHINGTON, August 9, 2017 - South Carolina abandoned two nuclear plant builds a week ago and now a Georgia plant may do the same as prices mount for investors. Ars Technica reported that these plants each employ Westinghouse pressurized water reactors (PWR) for which the price has skyrocketed after the electric company’s Chapter 11 announcement. SCANA, parent company of South Carolina Electric & Gas, announced they would scrap the Summer nuclear plant last week. SCANA CEO Kevin Marsh told the Public Service Commission of South Carolina that his company had negotiated a 52 percent fixed cost for the PWRs, but the price continually went up. “Through subsequent negotiations, we settled claims by Westinghouse for increased costs due to change in laws and regulations, regulatory delays, Fukushima costs, cybersecurity and physical security upgrades, and unanticipated site conditions,” Marsh explained.
Westinghouse bankruptcy partially to blame for scrapped nuclear plants