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Legal repercussions continue after two South Carolina nuclear fiascos

1 year after nuclear plants abandoned, fallout continues   BY JEFFREY COLLINS, ASSOCIATED PRESS

COLUMBIA, S.C. — Jul 28, 2018 In the 12 muddled months since the abandonment of two South Carolina nuclear reactors that never produced a watt of power, only one thing seems certain: it will take a lot of litigation to untangle the mess.

Courtrooms are where much of the saga some call South Carolina’s nuclear boondoggle will unfold.

South Carolina Electric & Gas Co. and state-owned utility Santee Cooper spent more than $9 billion before abandoning construction on the reactors at the V.C. Summer Nuclear Station near Columbia last year. State and federal authorities are probing the failure, and irate customers and shareholders have filed lawsuits.

“We’re just at the end of the beginning,” said Lynn Teague, vice president of the League of Women Voters in South Carolina who has made protecting ratepayers her goal since noticing things weren’t going right for the projects three years ago.

Customers of SCE&G, a SCANA subsidiary, got a temporary 15 percent rate cut. But even the rate cut isn’t on bills yet. Four months of cuts are supposed to show up in August. SCE&G is asking a federal court to stop it, but a judge hasn’t taken up the request.

There is also a likely showdown ahead between Gov. Henry McMaster and the state Senate about whether the governor’s pick to run the board of state-owned Santee Cooper can start immediately without Senate approval. And there are ongoing criminal investigations of potential wrongdoing.

The complexity in unraveling the mess is in part because the two different utilities involved. SCE&G is privately owned with shareholders able to shoulder the loss . Dominion Energy in Virginia appears to be working toward a merger with SCE&G that is awaiting approval.

Santee Cooper is owned by the state and its holdings include land and lakes as well as the power grid. The utility the chief provider for power for the tinier co-ops that serve some of the most remote areas of South Carolina. The utility’s debt — which includes more than just the billions poured into the failed nuclear reactors — is around $8 billion or roughly equal to the annual state budget.

“We got out the paddles and kept the patient from dying. We did CPR,” Climer said of the past year in the Legislature. “Now we need to nurse him back to health.”

But experts predict whether Santee Cooper is sold or not, rates are going up for its customers. The average Santee Cooper customer pays $130 a month, while SCE&G customers pay some of the highest rates in the nation at $163 a month, based on power usage statstics.

“They had three to four billion of state assets and they go up there and they put money in the hole and now, of course, they’re not going to go under because they have a captive audience,” Condon told lawmakers considering his appointment in April. “But is that fair to all concerned? I think not.”


Follow Jeffrey Collins on Twitter at . Read his work at .

July 30, 2018 - Posted by | Legal, USA

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