A $21 Billion, Failed U.S. Nuclear Project Still Haunting Scana [Bloomberg Business News]
SCANA (SCG)
Last scana earnings: 10/25 07:30 am
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Source: Bloomberg Business News
Scana Corp. may have dropped a $21 billion plan to build a nuclear power plant in South Carolina two months ago, but washing its hands of the project altogether won’t be so easy. On Thursday, the utility disclosed that it had received a federal subpoena for documents related to the canceled reactors. Earlier this month, South Carolina’s governor made public a report suggesting Scana was aware of challenges plaguing the project since early last year. And the state legislature is carrying out a probe of how plans for the two reactors at the V.C. Summer plant fell apart. The backlash does not bode well for Scana as the utility owner seeks to recoup billions of dollars it spent on the project from South Carolina’s utility customers. The company’s battle to recover costs may become a flash point in the debate over who should pay for nuclear power projects that have failed to be built across the U.S. in the past decade. “It’s become an endless supply of negativ
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