SCE&G applies to withdraw Summer licences

[Marlin]

SCE&G applies to withdraw Summer licences

http://www.world-nuclear-news.org/RS-SCEG-applies-to-withdraw-Summer-licences.aspx

[Rennhack]

Not good.

[hamsamich]

Sounds like more of the same just closer to finality.

[Marlin]

Is the potential transfer of the license to Santee Cooper at all significant, I am thinking not but why wouldn't you just dump the license if there is no fuel on site.

[hamsamich]

I read something before about SantCoop possibly being interested in keeping up the site in hopes of building it later with investors/fed help.  Don't know if that is true.

[HeavyD]

By dumping the license, SCE&G is eligible for a $2 billion tax right off. In order to do so, they have to show that they have completely abandoned the project and this is a major step in that process.

As for Santee maintaining the site, estimated cost is around $15 million/yr. Santee currently has over $8 billion in debt, so I wouldn't hold my breath on that one.

To quote one of our previous GMs, "There isn't a white knight riding in here to save this thing. It's dead."

[bsdnuke]

As a former VC Summer SCE&G employee (1981-1986) this saddens me of course. Virgil would be turning over in his grave from this. But it is a reality from bad construction QC and other things. I remember with Unit 1 when they figured out it would pass 1 billion but went ahead with it, abandoning Unit 2. Better times for the industry.