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Negotiations over cost overruns for South Carolina’s proposed new nuclear reactors

Scana ends dispute over early nuclear costs,  Mar 29, 2012 * Scana unit to pick up $138 million in early cost overruns * First Summer reactor operation delayed one year to 2017 * U.S. regulators to vote on Scana license Friday  March 29 (Reuters) – Scana Corp’s South Carolina utility said on Thursday it reached a preliminary pact to settle a dispute over early cost overruns for its proposed new nuclear reactors, a day before U.S. regulators are expected to vote to allow construction to move forward.

Scana’s South Carolina Electric & Gas Co (SCE&G) and its partner, state-owned electric agency Santee Cooper, want to build two AP1000 reactors at the Summer nuclear site near Jenkinsville, South Carolina, at a projected cost of $9 billion.

Scana also revised its timeline to complete the reactors, delaying the first reactor’s start date to 2017, a year later than earlier expected…

SCE&G, Westinghouse, and the Shaw Group have been negotiating who is responsible for certain increased costs to build the two new reactors for several months. SCE&G, which owns 55 percent of the project, said its portion of the increased costs will be $138 million, or $50 million less than they had previously disclosed……

Westinghouse is majority-owned by Japanese multinational Toshiba Corp.

March 31, 2012 - Posted by | general

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