South Carolina regulators OK nuclear power project

WILMINGTON, N.C., Feb 12 (Reuters) – South Carolina regulators have unanimously approved a request by the state’s largest utility, South Carolina Electric & Gas (SCE&G), to join with a state-owned utility to build two nuclear reactors.

The South Carolina Public Service Commission vote on Wednesday gave South Carolina Electric & Gas the right to begin raising electricity rates next month to help pay for its portion of the $9.8 billion project.

SCE&G, a subsidiary of SCANA Corp (SCG.N: Quote, Profile, Research), and Santee Cooper, known formally as the South Carolina Public Service Authority, plan to build the two reactors at the site of the V.C. Summer Nuclear Station near Jenkinsville, about 30 miles north of the state capitol, Columbia.

Reuters UK