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Increasing costs for failed South Carolina nuclear project

Bill for failed South Carolina nuclear project could climb by $421 million, By Thad Moore tmoore@postandcourier.com 19 June 18, The final tab for South Carolina’s failed nuclear power project could increase by $421 million after a state audit found the two utilities behind it owe sales tax on the materials they bought for the unfinished plant.

The bill, obtained by The Post and Courier, includes millions of dollars of interest tacked onto a staggering $410 million claim for back taxes. The assessment covers every item that South Carolina Electric & Gas and Santee Cooper bought for the massive construction project — every bolt, pipe and turbine.

SCE&G and Santee Cooper have said they will challenge the findings of the audit. But the assessment stands to pile onto the failed V.C. Summer project’s already-hefty $9 billion tab. Who will pay for the unfinished reactors all has dominated state politics for much of the last year……..https://www.postandcourier.com/business/bill-for-failed-south-carolina-nuclear-project-could-climb-by/article_c638c31e-733f-11e8-b5f1-7fce3c8afe80.html

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June 20, 2018 - Posted by | business and costs, USA

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