Financial Analysis on Nuclear Reactor Utility
COLUMBIA, S.C. (AP) _ A South Carolina utility can stay afloat without collecting much of the $37 million in monthly nuclear charges from customers.
That’s according to a financial analysis commission by the state Senate and reported on Tuesday by the Post and Courier of Charleston .
The study by Washington, D.C.-based consulting firm Bates White shows lawmakers can temporarily cut South Carolina Electric & Gas Co.’s electric rates by at least 13 percent. The utility’s 700,000 customers currently pay 18 percent of their bills for a pair of unfinished reactors at the V.C. Summer Nuclear Station.
A cut that large would drop typical home power bills by $19 per month while regulators and the courts hash out a permanent solution to the failed project, toward which SCE&G customers have paid more than $2 billion.