South Carolina House Panel Advances Bills Addressing Summer Expansion

first_imgBy the Associated Press Facebook By chloecox – Utility executives have warned against taking such measures, saying that cutting ratepayers’ monthly bills could bankrupt the Cayce-based corporation. SCANA shares have dropped by roughly 25 percent since the project was called off in July, following the bankruptcy of lead contractor Westinghouse. By the time the project fell apart, ratepayers had already footed $2 billion in payments toward the reactors. In introducing the bills last week, House Speaker Jay Lucas said they would “gut existing laws” that allowed such charges before the reactors were complete, like the 2007 Base Load Review Act. The new proposals would require that power plants be operational before utilities can charge their customers for that investment. Twitter Previous articleSiemens to Provide over 200 MW of Mobile Gas Generation to AfghanistanNext articleOptimizing Gas Turbine Performance chloecox NuclearReactors TAGSSCE State Rep. Peter McCoy of Charleston, who chairs the panel, said legislators don’t want to hurt Santee Cooper but can’t be blamed for offering tough solutions to problems the utility helped create. Interim Santee Cooper chief executive Jim Brogdon said those moves would hurt the utility’s credit rating, which could lead to higher interest rates for the utility and higher electricity costs for customers. Linkedin “This isn’t something that I’ve done,” McCoy said. “This is something that the (Santee Cooper) board has done, that agreements have done.” During a meeting Tuesday, House members bristled at concerns that some of the proposals would hurt state-owned utility Santee Cooper, the project’s other co-owner. Lawmakers are also looking at ways to set new criteria for the utility’s future directors, as well as require that Santee Cooper’s rate-hike requests be regulated by the Public Service Commission. McCoy said he expects SCANA to file a lawsuit once the legislation is passed. At least half a dozen lawsuits are already pending, seeking to hold the utilities accountable for the failure.center_img COLUMBIA, South Carolina — South Carolina lawmakers are moving forward on proposals to shake up state laws and boards that enabled a costly nuclear fiasco, unanimously approving Tuesday six bills designed to limit how much more the state’s power customers must pay for the now-defunct project. Linkedin The six proposals include one that would block project co-owner South Carolina Electric & Gas Co. from continuing to charge its customers $37 million a month for the scuttled project at the V.C. Summer Nuclear Station. Another bill could force SCE&G to refund the $1.7 billion that it already has charged customers. Lawmakers, state and federal authorities and Wall Street regulators are probing the failed project. Optimizing Plant Performance: The April POWERGEN+ series activates today Twitter 11.15.2017 RELATED ARTICLESMORE FROM AUTHOR New Jersey utility regulators extend zero-carbon breaks for PSEG nuclear power plants South Carolina House Panel Advances Bills Addressing Summer Expansion Facebook Suitors for halted Bellefonte nuclear project ask TVA to consider climate in reviving sale No posts to displaylast_img read more