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« Trigaux: Blind to runaway costs, nuclear power industry abandons another nuke plant | Main | Georgia and South Carolina ratepayers could lose many billions of dollars in return for zero electricity, if Westinghouse bankruptcy leads to cancellation of four partially constructed atomic reactors »
Monday
Jul312017

FOE: South Carolina Bungled Nuclear Reactor Construction Project Canceled

Next Step: Who will be Held Accountable and When will Ratepayers Receive Refunds?


See the full press release by Friends of the Earth, featuring a statement by FOE's senior advisor, Tom Clements.

Here is an excerpt from Clements' statement:

To reduce the on-going blow to SCE&G ratepayers already paying 18% of the bill just to pay for project financing, it’s time for money to be refunded as it was collected from them under the false pretense that advance payment for the nuclear project was sound. In proceedings before the South Carolina Public Service Commission, we pledge to be a steward of the public interest and to determine who must be held accountable for this boondoggle and to fight for monetary reparations to customers.

Advance payment has also been referred to as "Construction Work in Progress," or CWIP.