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SCANA hopes to finish South Carolina reactor despite

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eFinanceMarkets   Wednesday, 03/29/17 12:38:57 PM
Re: UserAlias1 post# 14
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SCANA hopes to finish South Carolina reactor despite Westinghouse woes
SCANA (SCG -1.1%) and state-owned utility Santee Cooper, partners on the project at the V.C. Summer Nuclear Station in South Carolina, say they are working with Westinghouse to reach an agreement, subject to bankruptcy court approval, that allows for work on the project to continue toward completion of the units.
The agreement, filed today with the court as part of Westinghouse's bankruptcy filings, allows for a transition and evaluation period during which SCG and Santee Cooper say they will determine the most prudent path forward for the project.
Both Santee Cooper and SCG subsidiary South Carolina Electric & Gas Co. have raised rates several times to fund the project, which is behind schedule and over the original projected cost.

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