COLUMBIA, S.C. (AP) — The Latest on the abandonment of a South Carolina nuclear power project (all times local):
A South Carolina agency responsible for examining utilities says state regulators should reject South Carolina Electric & Gas’ plans to recover billions more from customers for a nuclear project it bailed on last week.
The Office of Regulatory Staff recommends dismissal of the company’s abandonment plans.
The private utility and state-owned Santee Cooper decided last week to halt their expansion of V.C. Summer Nuclear Station after jointly spending $10 billion. By law, SCE&G must get approval from the Public Service Commission.
SCE&G is asking commissioners to find it acted prudently, so it can proceed with plans to revise electricity rates and recoup $5 billion over 60 years.
The Office of Regulatory Staff, which represents the public in utility regulation, argues SCE&G is making its request under the wrong section of state law.
A review of federal records shows the company that led the failed effort to build two new nuclear reactors in South Carolina paid its executives millions in bonuses, some of it for work on the project.
The State newspaper reported a review of filings with the U.S. Securities and Exchange Commission show SCANA Corp. paid executives more than $21 million in performance bonuses over the past decade, including money for work on the V.C. Summer nuclear station north of Columbia.
SCANA’s South Carolina Electric & Gas Co. and the state-owned utility Santee Cooper last week abandoned construction on two new reactors, for which they already spent $10 billion. Much of the money was paid by customers.
A SCANA spokeswoman told the newspaper the company doesn’t talk about employees’ pay.
First Published August 10, 2017 12:00 AM