Failed SC nuclear project to cost typical Santee Cooper ratepayer $6,200

[jpak]

https://www.postandcourier.com/business/failed-sc-nuclear-project-to-cost-typical-santee-cooper-ratepayer/article_5e3881ec-959e-11e8-80d4-1796b228e181.html

The typical Santee Cooper electric ratepayer will pay more than $6,000 to pay off the utility’s share of the failed nuclear project, a bill they’ll pay in monthly $13 installments for the next four decades.

Power users aren’t feeling the full weight of the abandoned reactors yet: The expansion of the V.C. Summer nuclear power plant is only costing the typical home $5 a month right now.

That number will ratchet up over the next several years. Santee Cooper, which is owned by the state, says it will need to raise its electricity rates a few times over the next five years. They’ll more than double the nuclear charges in ratepayers’ bills.

The monthly charge will vary year-to-year based on when the utility’s debt comes due, but it won’t drop from bills until it’s all paid off in 2056. By then, each home will have paid about $6,200.

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[mackdaddy]

1. They do not mention any cost to the investors or executives

They are the ones who are truly responsible for this debacle through their mismanagement.

[SWBTATTReg]

2. I think that they said utility was owned by state...

S. Carolina Elec. and Gas is the co owner of failed nuclear plant, and so is sharing a loss of $2800. The rest of the ownership is via apparently something like a co op or utility owned by the state.

I guess that there are going to be some changes in government in S. Carolina before too long, eh?