nuclear-news

Utilities largely have backed off any rush to forge ahead in constructing the next generation of expensive, new nuclear reactor plants — even though they seemed plausible just a few years ago.

Santee Cooper, the state-owned utility in Moncks Corner, continues to try to divest itself of some portion of its 45 percent stake in two new reactors under construction at the V.C. Summer Nuclear Station in Jenkinsville, a $10 billion project.

SCE&G, the state’s largest utility and principal owner of the Summer plant, maintains the 55 percent controlling interest.

Santee Cooper has been seeking a buyer for its stake in the plant for three to four years, without success. Talks continue with one suitor, Charlotte energy giant Duke Energy.

The doubts are hard to miss……..  in June, SCE&G said both units at Summer would be delayed. The Unit 2 reactor, which was supposed to go online in March 2017, will now be delayed until late 2017 or the first quarter of 2018.The Unit 3 reactor originally was supposed to be in service by the end of 2018, but will be delayed similarly to the Unit 2 reactor, the utility said.

The delays could cost more than $200 million, SCE&G said……..

“There’s talk on Capitol Hill of providing more money for DOE to make additional loan guarantees. If so, Duke might be better off waiting for its Lee station,” said Dave Lochbaum, nuclear safety project director. “If that talk leads to nothing, the 45 percent share in Summer becomes more attractive. Duke would love to know whether more loan guarantee money will be available, because it significantly affects financing for Lee.”

The bottom line is, Duke needs to know how much power it needs, Lochbaum said — a variable it doesn’t exactly know.

“When Santee Cooper does not need power due to declining needs, Duke — having acquired Progress Energy last year — must make a strong case for needing more power before investing that much more money,” Lochbaum said. http://www.thestate.com/2013/08/19/2927964/doubts-dampen-scs-nuclear-future.html