The $9 billion nuclear fiasco

Since July 31, 2017, when SC Electric & Gas abandoned its nuclear plant project the BIG question has been how much of the $4.7 billion in construction costs will the ratepayers be responsible for paying?

By December 21 of this year, we should know the answer. That is the date the SC Public Service Commission has been given by lawmakers to rule on who will be responsible for paying abandonment costs.

Will it be 700,000 ratepayers, shareholders or both. The PSC hearing on this issue will start on November 1st.

as SC Small Business Chamber of Commerce President, I am a pro se intervenor in this PSC hearing. I am one of 15 organizations, businesses and individuals recognized to fully participate in this hearing. I have consistently maintained that all the electric rate hikes approved by the PSC since 2009 (18%) to only pay for the project’s construction financing should be rolled back and about $2 billion already collected by SCE&G in higher rates should be clawed back to repay the abused ratepayers.

Last June, the Legislature voted to have the PSC temporarily roll back SCE&G electric rates by 15% retroactively to April of this year. The PSC complied and SCE&G rolled back the rates. But SCE&G has appealed that ruling to a federal court.

I have also spoken out loudly against Dominion Energy being allowed to be part of the PSC hearing on the abandonment costs.

The PSC’s ruling against a motion to confine Dominion to a separate and later hearing on its proposed acquisition of SCANA/SCE&G poses a serious threat to obtaining a ruling on abandonment costs that is in the best interest of ratepayers.

The SCE&G customers will have their opportunity to speak directly to the PSC at three public hearings. Individuals will have three minutes for oral presentations. All the public hearings will start at 6 pm.

The Columbia hearing is Monday, Sept. 24, PSC, Hearing Room, Synergy Business Park, Saluda Building, 101 Executive Center Drive, near Bush River Road and I-20.

Let the Public Service Commissioners know how you feel on this issue.

Yes, you are paying a tax on your taxes

About your comment in the Chronicle about lawmakers one day passing a tax on the taxes you pay, they are already doing it.

Look at line 20 of form 1040.

Tax is charged on up to 85% of your Social Security benefits.

These benefits are simply a return of the employment tax workers and business owners pay over the years.

As you receive your tax back, plus interest possibly, you are taxed on tax. Most people don’t realize this.

John Hutto