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Photo of VC Summer site, May 26, 2017, ©High Flyer via SRS.org

According to the US Congressional Budget Office (CBO), 2011:
Historically, the U.S. nuclear industry has received considerable federal support and has been subject to extensive federal regulation. After an initial period of growth in the industry, many nuclear projects ran into problems with delays, cost overruns, and cancellations. In a few cases, those circumstances led to the bankruptcy of the project sponsor and to losses by some debt holders, although much more often losses were absorbed by ratepayers or the government rather than by bondholders. More recent experience from abroad suggests that the risk of cost overruns and delays remains a concern even with modern reactor designs…

Cost overruns averaged more than 200 per-cent for plants on which construction started between 1966 and 1977. Additionally, many projects were canceled after construction had started but before completion, and a number of reactors were shut down (see Table A-1). The first reactor cancellations occurred in 1977; and in 1980 alone, 21 projects were canceled. In total, 40 projects were canceled after construction had started. Moreover, several reactors in operation were shut down before the end of their normal operating lives because of safety or operational problems or political opposition.http://www.cbo.gov/sites/default/files/cbofiles/ftpdocs/122xx/doc12238/08-03-nuclearloans.pdf

Construction started on the VC Summer reactor in 2013. So, clearly, knowing the above, they demonstrated risk-taking behavior and a lack of prudence in starting the construction of this nuclear power station. This is even apart from the risk-taking inherent in nuclear power and nuclear waste. And, there have been major nuclear accidents at Three Mile Island (1979), Chernobyl (starting in 1986); Fukushima (starting in 2011).

Emphasis our own. See entire original, with emphasis added, at our blog post bottom and the original here: http://www.srswatch.org/uploads/2/7/5/8/27584045/2017-244-e_nof__correct_version__august_5_2017.docx

From Savannah River Site Watch http://www.srswatch.org:
Breaking news – Saturday morning, August 5, 2017

South Carolina Public Service Commission buckles under growing pressure in aftermath of collapse of SCE&G’s nuclear reactor construction project and fails to rubber stamp SCE&G request for expedited hearing dates on reactor “abandonment plan” – the plan which would stick ratepayers for costs of the terminated project for 60 years

DOCKET NO. 2017-244-E


August 4 letters of note – concerning special session of SC legislature to review the implosion of the reactor project:
from leaders in SC legislature – linked here: http://www.srswatch.org/uploads/2/7/5/8/27584045/joint_letter_vc_summer_aug_4_2017.pdf
from SC attorney general – linked here: http://www.srswatch.org/uploads/2/7/5/8/27584045/wilson_letter_augus_4_2017.pdf

“ACTION – RED ALERT for South Carolina Citizens & Ripped-Off SCE&G Ratepayers – linked here: http://www.srswatch.org/uploads/2/7/5/8/27584045/alert_purc_sce_g_reactor_project_scam_august_5_2017.pdf

Attend legislature’s “Public Utilities Review Commission” in Columbia, SC on August 23, 2017 – Time to hold the South Carolina Public Service Commission & S.C. Office of Regulatory Staff Accountable (& director Dukes Scott) for giving SCE&G everything it’s wanted since this debacle began in 2008 and for not properly reviewing the project, despite continued pleas from Friends of the Earth & the Sierra Club http://www.srswatch.org/uploads/2/7/5/8/27584045/alert_purc_sce_g_reactor_project_scam_august_5_2017.pdf

Red Alert! Attention SC Citizens & SCE&G Ratepayers!

“After relentless effort since 2008 when we first intervened against SCE&G’s V.C. Summer nuclear reactor boondoggle and advocated in proceedings at the PSC for clean energy our work is being validated and doors are opening to making advances on clean energy and how energy decisions are made in South Carolina ….” Read the rest here: http://www.srswatch.org/uploads/2/7/5/8/27584045/alert_purc_sce_g_reactor_project_scam_august_5_2017.pdf

DOCKET NO. 2017-244-E

Emphasis our own, see original here: http://www.srswatch.org/uploads/2/7/5/8/27584045/2017-244-e_nof__correct_version__august_5_2017.docx