SCE&G, Santee Cooper abandon nuclear power project

After working nine years to expand a nuclear power plant in South Carolina, Santee Cooper and SCE&G said Monday they are pulling out of the $14 billion reactor project in Fairfield County in the wake of rising costs, falling demand for energy, construction delays and the bankruptcy of lead contractor Westinghouse this past spring.

SCE&G said in a news release that a comprehensive review of the Fairfield County nuclear project — a review that began after Westinghouse filed for bankruptcy — caused the company to conclude that finishing the two nuclear reactors “would be prohibitively expensive.”

via SCE&G, Santee Cooper abandone nuclear power project | The State