the nuclear nightmare

The Public Service Commission has been pummeled with criticism for over a year. They approved SCANA’s construction cost overruns and nine rate hikes related to the now-abandoned nuclear reactors. SCE&G ratepayers and the state’s electric co-op members are on the hook for about $9 billion in debt because of those rulings. I have not been one of the PSC critics. Until now.

As president of the S.C. Small Business Chamber of Commerce, I have intervened in SCE&G rate requests since 2002 and the utility’s 2016 request for approval of more nuclear construction costs. I signed the settlement that allowed for more construction costs and prohibited SCE&G from seeking additional increases. I intervened in the current matters I hope will provide lower power bills for SCE&G ratepayers who continue to pay $37 million a month for the for nuclear reactors that will never provide electricity. I have always defended the PSC for its decisions on the nuclear project. I still maintain that the BLRA law our General Assembly passed was the real culprit in this debacle. It compelled the PSC to approve every construction cost increase and associated rate hike for the project.

It’s different now. Last year, the S.C. Office of Regulatory Staff and the Friends of the Earth/Sierra Club filed petitions asking the PSC to roll back all nuclear rate hikes. As a result, the PSC later this year will decide if ratepayers receive any relief due to SCE&Gs mismanagement of the nuclear project and withholding critical reports that warned of the project’s failure. To reach the right decision, the PSC must have all hidden information. The PSC needs to know what SCE&G knew and when. To date, SCE&G has refused to provide this to those who need the information to prepare arguments for ratepayer relief. The PSC has not ordered SCE&G to turn over the documents yet wants the Office of Regulatory Staff and others seeking rate relief to file testimony in two months. The PSC is playing right into SCE&G’s hands. If the PSC doesn’t compel SCE&G to turn over all requested documents, the ORS and others will be unable to present an effective argument for rate relief. Nor will the PSC have what’s needed to roll back rates.

Even if the PSC compels SCE&G to provide documents soon, the parties won’t have enough time to adequately examine them, request follow-up information and then prepare testimony before Aug. 7. The PSC is protecting SCE&G. It is time for the PSC to shed its image of subservience to powerful utility companies. It should compel SCE&G to:

• Comply with all discovery requests.

• Give those seeking rate relief extra time to file their testimony. The PSC’s failure to take these actions is indefensible and deserves criticism.

Knapp is CEO of the S.C. Small Business Chamber of Commerce. Contact him at fknapp@scsbc.org.

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