by Kristi E. Swartz
4/20/2017: Roughly 30 vendors have asked Westinghouse Electric Co. to return $35 million in materials and products that the mega-contractor ordered for four nuclear reactors in Georgia and South Carolina before the company filed for Chapter 11 bankruptcy protection, documents show.
At issue are “reclamation of claim” letters, which are routine during a matter of bankruptcy. Broadly, they allow vendors to ask that unpaid materials and goods ordered within 45 days of a bankruptcy filing be set aside and returned.
by Kristi Swartz
4/14/17: Scana Corp. executives might extend a contract with Westinghouse Electric Co. LLC as the utility decides whether to complete its multibillion-dollar nuclear power expansion in South Carolina.
Meanwhile, Southern Co.’s Georgia Power unit has yet to decide whether it needs more time to figure out how to proceed with its twin reactors under construction in Georgia.
A 2.4-million-pound module that will house components in the first of two new nuclear reactors is moved into place at the V.C. Summer plant north of Columbia. The utility’s financing method is drawing criticism.
by David Wren
Charleston, SC 8/11/15 — State regulators should review the pay-as-you-go method being used to build a nuclear power plant near Jenkinsville to see if it really is saving money or simply letting South Carolina Electric & Gas pass costs it should absorb on to its customers, the head of the S.C. Small Business Chamber said Tuesday.
A spokesman for the utility, however, said the state already reviews the project’s finances and proposed utility rate increases, all of which are available for public review.
Frank Knapp Jr., the chamber’s CEO, said he’s not convinced the current financing method — under a state law called the Base Load Review Act — is fair to consumers, including the business owners his group represents.
South Carolina 6/28/15 — With SCE&G’s electrical rates growing 26 percent over the last five years, protecting the consumers’ interest has never been more important.
Unfortunately, the consumer was the loser in the state’s recent decision to allow the utility to keep confidential part of its rate hike request.
The information in question dealt with financing costs for the construction of two new nuclear reactors at the V.C. Summer site in Fairfield. SCE&G claimed the information contained “trade secrets” protected under the Freedom of Information Act.