the nuclear fiasco

The Public Service Commission’s order on who pays for the failed nuclear reactor construction project of SC Electric & Gas falls far short of protecting customers.

The ruling disallows construction costs incurred after March 12, 2015 and finds project abandonment to have been “prudent” but fails to clearly explain why that date was chosen. Though now well defined in revised SC law, the PSC twisted itself into a knot to avoid calling any part of spending on the project to be “imprudent,” a finding that is essential to have made.

The allotment of costs is a bad deal for ratepayers, who will be saddled with more than an additional $2 billion in costs over the next 20 years, an offer made by Dominion as the so-called “Plan-B Levelized.”

Friends of the Earth and the Sierra Club filed a complaint with the PSC in June 2017 for all costs spent on the project to be returned to ratepayers. The groups maintained this position during the 3-week PSC hearing in November.

The PSC order also approves the takeover of SCANA, parent company of SCE&G by Dominion Energy of Virginia.

The decision by the PSC was heavily influenced by a statement of support by House Speaker Jay Lucas for the offer by Dominion sticking the additional $2 billion in costs by SCE&G customers.

It is most unfortunate the PSC politicized its decision and demonstrated they are beholden to politicians who appoint them to office rather than to SCE&G customers.

Tom Clements, Friends of the Earth