Companies Revise Cost Estimate for New V.C. Summer Reactors

While still below the projection approved by state regulators, the companies building two new reactors at South Carolina’s V.C. Summer nuclear plant announced Thursday they had agreed to revise the project’s cost.

SCANA, whose South Carolina Electric & Gas Co. operates the plant, reported it agreed to pay an additional $138 million for costs related to licensing delays, rock conditions at the site and plant design issues. They reached the agreement with contractor The Shaw Group and Westinghouse, maker of the AP1000 reactors planned for the site.

In a release, SCANA said the projected cost of the overall project is still lower than the dollar figure approved by the Public Service Commission of South Carolina in 2009. The previous year, SCE&G estimated the overall cost for both units at $9.8 billion, with its share at $5.4 billion. Santee Cooper will cover the balance.

The release did not say if, or by how much, the cost increases would affect Santee Cooper.

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