Regulators hold hearing on SC nuke project amid bankruptcy

By Meg Kinnard, Associated Press

A utility that co-owns nuclear reactors under construction in South Carolina is set to explain to state regulators where the project stands following the bankruptcy of its contractor.

 

COLUMBIA, S.C. (AP) — A utility that co-owns nuclear reactors under construction in South Carolina is set to explain to state regulators where the project stands following the bankruptcy of its contractor.

South Carolina Electric & Gas on Wednesday is explaining its take on the situation at the V.C. Summer Nuclear Station to the state's Public Service Commission, which oversees utilities.

SCE&G owns 55 percent of the plant. For years, SCE&G customers have been funding the new reactor project through a series of rate hikes approved by state regulators.

Westinghouse Electric Co. has been building the reactors. That company declared bankruptcy last month.

The state-owned utility Santee Cooper owns the other 45 percent.

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