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Santee Cooper officially cancels contract to end dispute over nuclear parts

Santee Cooper officially cancels contract to end dispute over nuclear parts, Post and Courier By Andrew Brown abrown@postandcourier.com, Aug 26, 2019  

antee Cooper pulled out all the stops last week in an effort to end a dispute over the ownership of valuable equipment sitting idle at the failed V.C. Summer nuclear project.

The state-run utility has been attempting to maintain billions of dollars of pumps, motors, generators, electrical cable, steel beams and one-of-a-kind components that were left over when the project in Fairfield County was canceled two years ago.

When the materials were first purchased, they cost billions of dollars. The hope is that Santee Cooper will be able to resell some of the parts to offset the debt it incurred from the two unfinished reactors. ……

In an effort to end the legal dispute, Santee Cooper officially terminated the contract it initially signed with Westinghouse in 2008.

Santee Cooper believes ending that construction contract will end any chance Brookfield had at staking a claim on the massive stockpiles of equipment.

The utility’s attorneys said it should remove “any doubt” about who the legal owner is.

It’s up to the court to decide whether that’s the case. A hearing on the issue has not been scheduled. https://www.postandcourier.com/business/santee-cooper-officially-cancels-contract-to-end-dispute-over-nuclear/article_8cc09d6c-c822-11e9-ab1f-07f2742a6318.html

August 26, 2019 - Posted by | business and costs, USA

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