SCE&G updates costs, construction schedule for nuclear new builds

SCPSC approves updated construction schedule and costs for SCE&G Summer nuclear power plant

The two reactors under construction at the V.C. Summer nuclear power plant in South Carolina are now approved for completion in 2019 and 2020, according to updated filings with the state Public Service Commission (PSC).

Commissioners approved the construction schedule for units 2 and 3 to be completed in June 2019 and June 2020 based upon information from Westinghouse Electric Co. and Chicago Bridge & Iron (CB&I, NYSE: CBI). The approved capital cost schedule includes incremental capital costs that total $698 million in 2007 dollars, of which $539 million is allotted for delays and other costs. Total project capital cost is now estimated at $5.2 billion in 2007 dollars, which is the portion to be covered by utility South Carolina Electric & Gas.

The two Westinghouse AP1000 reactors currently under construction have faced delays and cost overruns similar to what is seen at Plant Vogtle in Georgia, where Westinghouse and CB&I are also building two AP1000 reactors.

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