SCANA abandoning 2 unfinished nuclear reactors by years end for $2 billion tax deduction

SCANA is fully abandoning two unfinished nuclear reactors at V.C. Summer station in Fairfield County by the end of the year in order to apply for a roughly $2 billion tax deduction.

The investor-owned utility’s leaders told South Carolina regulators that a proposed federal tax write-off could be equal to 40 percent of the $4.9 billion that SCANA paid for its share of the Westinghouse-designed reactors since 2009.

SCANA officials say those savings will be passed onto its 698,000 electric customers in South Carolina. But the decision could require billions of dollars worth supplies in the tents, fields and warehouses near Jenkinsville to go to waste.

via SCANA abandoning unfinished nuclear reactors by years end for $2 billion tax deduction | Business | postandcourier.com

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