Lack of Prudence in Trying to Construct Now Abandoned New Nuclear Project in SC; Petition to Intervene Deadline and Hearing

Mining Awareness +


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…

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