Utility votes to stop building billion-dollar nuke reactors

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COLUMBIA, S.C. (AP) – South Carolina’s state-owned utility voted Monday to cease constructing two billion-greenback nuclear reactors, doubtless ending the challenge.

The reactors have been set to be among the many first new nuclear reactors constructed within the U.S. in many years, however the venture has been suffering from delays and price overruns.

Santee Cooper’s board stated the choice to finish development will save clients an estimated $7 billion. Finishing the challenge would have value a further $eight billion and $three.four billion in curiosity and it probably would not be completed till 2024. The primary reactor was presupposed to be on-line this yr.

Santee Cooper owns forty five % of the venture. South Carolina Electrical & Fuel owns fifty five %. That utility deliberate to replace state regulators on Tuesday.

The undertaking has been shrouded unsure since earlier this yr, when main contractor Westinghouse filed for chapter safety.

The utilities introduced final week that Westinghouse’s mum or dad firm, Toshiba Corp., agreed to collectively pay them $2.2 billion no matter whether or not the reactors are ever accomplished.

The reactors have been deliberate for the V.C. Summer time Nuclear Station north of Columbia.

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