Vogtle, Summer nuclear plants face bleak outlook after Westinghouse bankruptcy
The Summer nuclear reactor expansion in South Carolina and the Vogtle nuclear plant expansion in Georgia may never come to fruition after the plants’ original contractor, Westinghouse, filed for bankruptcy in March.
Last week, power company Santee Cooper and energy company SCANA Corp announced that they would walk away (PDF) from the Summer plant. They made the announcement after calculating that the plant could cost an additional $11.4 billion to finish, which would bring the final bill to more than $25 billion.
Santee Cooper owns 45 percent of the Summer plant and SCANA owns 55 percent. Westinghouse parent company Toshiba offered the two companies $2.2 billion toward the completion of the plant, but the two companies found that sum insufficient to continue construction.