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The News That Matters about the Nuclear Industry

South Carolina nuclear power backers push for tax-payer aid

After failure of SC nuke plant, backers seek federal aid,  By MATTHEW DALY, 14 Aug 17, WASHINGTON (AP) — Proponents of nuclear power are pushing to revive a failed project to build two reactors in South Carolina, arguing that the demise of the $14 billion venture could signal doom for an industry that supplies one-fifth of the nation’s electricity…..Supporters were alarmed when two South Carolina utilities halted construction on a pair of reactors that once were projected to usher in a new generation of nuclear power……

The July 31 suspension of the partly completed V.C. Summer project near Columbia, South Carolina, leaves two nuclear reactors under construction in Georgia as the only ones being built in the U.S. The collapse of the nearly decade-old project in South Carolina could cost ratepayers billions of dollars for work that ultimately provides no electricity and could signal that new nuclear plants are impossible to complete in the United States.

“These reactors failing would be the end of a nuclear renaissance before it even started,” said Sen. Lindsey Graham, R-S.C.

Graham and other lawmakers from both parties are urging Congress to extend a production tax credit that would provide billions of dollars to the South Carolina project and the two Georgia reactors. The House approved an extension in June, and Graham is pushing for a Senate vote after Congress returns from its August recess….

The Vogtle plant in Georgia faces similar economic and competitive threats, including the Westinghouse bankruptcy. The plant’s operator, Atlanta-based Southern Co., has said it will decide in coming weeks whether to finish the two reactors, which are years behind schedule and billions of dollars above projected costs……

Besides the production tax credit, nuclear supporters want the extension of an Energy Department loan guarantee program that has helped Vogtle and other energy projects secure funding. Vogtle received an $8.3 billion loan guarantee under the Obama administration – the largest ever issued by the loan program and a deal that some critics say could end up biting taxpayers…..https://www.apnews.com/1746c2dee6464b1586dbbedda6714bc4

 

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August 16, 2017 - Posted by | business and costs, politics, USA

1 Comment »

  1. They already got $8 billion in loan garantees that I guess fall on the federal taxpayer or maybe rate-payer.

    Comment by miningawareness | August 17, 2017 | Reply


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