Utilities Abandon Construction of Summer Nuclear Plant in South Carolina

SUGAR LAND--August 1, 2017--Written by John Egan for Industrial Info Resources (Sugar Land, Texas)--In the end, multibillion-dollar cost overruns and the years-long delays in construction killed plans to add two new units to the Virgil C. Summer Nuclear Power Station in Jenkinsville, South Carolina. Originally budgeted at about $15 billion in 2009, plans to add about 2,200 megawatts (MW) of new electric generation capacity at an existing nuclear plant ran into numerous obstacles. But the final straw appeared to be Westinghouse Electric Corporation's Chapter 11 bankruptcy and decision to exit the nuclear construction business earlier this year.

Within this article: Details on the decision and how nuclear power in the U.S. will be affected.

Other companies featured: SCANA Corporation (NYSE:SCG)