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Business

Exec Says Abandoned Nuke May Be Built Someday

Santee Cooper and SCE&G had been adding two reactors at the V.C. Summer nuclear plant in Fairfield County.
Santee Cooper
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COLUMBIA, S.C.  — The retiring CEO of one of two utilities that abandoned a nuclear power project in South Carolina argues against selling the pieces, saying the reactors will be completed someday.

Santee Cooper CEO Lonnie Carter told senators Monday that the utilities should not "walk away from this investment." He questioned whether it makes sense to sell parts off to reduce debt now only to have to buy them at full cost later.

The state-owned utility and private South Carolina Electric & Gas abandoned construction of two reactors July 31 after jointly spending nearly $10 billion.

Utility executives have said nearly all of the components needed to complete them are on site.

Whether to sell is up to the utilities, though Santee Cooper has less say as the minority owner.