SCE&G settles early-reactor-costs dispute

03/30/2012 | Reuters

South Carolina Electric & Gas has reached an initial settlement over early cost overruns for two planned reactors at the V.C. Summer nuclear plant in South Carolina. For several months, SCE&G, The Shaw Group and Westinghouse Electric have been discussing accountability for certain increased costs for the project. "We remain firmly committed to construction of these two units and can now focus on receipt of our license from the [Nuclear Regulatory Commission] and proceeding with full nuclear construction," said Kevin Marsh, chairman and CEO of SCE&G parent company SCANA.

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