Scana Corp.'s South Carolina Electric & Gas Co. said Tuesday it signed an agreement with Westinghouse Electric Co. LLC and the Shaw Group Inc. to design and build two nuclear power plants in South Carolina for about $9.8 billion (at the existing Summer plant location). The price includes the costs of the units, plus forecasted inflation, and owner’s costs for such things as site preparation, contingencies, and project financing (i.e., overheads).
The company said it will jointly own the plants with Santee Cooper, a state-owned electric and water utility. The two companies already jointly own and share operating costs and generating output of the existing nuclear plant in the area.
The company said under the agreement, it will be responsible for 55 percent of the cost and output of the new plants while Santee Cooper will have 45 percent.
South Carolina Electric & Gas will pay $5.4 billion of the total price for the new plants and Santee Cooper will pay about $4.4 billion, the company added.
Before the plants are built, the companies must receive a license from the Nuclear Regulatory Commission. The two companies submitted an application March 31. The review process takes about three to four years, the companies said.
South Carolina Electric & Gas estimated that the first plant could begin service in 2016 with the second plant following in 2019. Westinghouse and The Shaw Group signed a similar contract last month with Georgia Power for two AP1000's (Westinghouse Advanced Power reactors, rated at 1000 MegaWatts electrical) at the existing Vogtle nuclear power plant.
Sources include Platts and the Associated Press.
This is above and beyond the two plants that are planned at the South Texas Project, as part of NRG, which are a partnership of General Electric and Toshiba. The nuclear renaissance has started.
3 comments:
If I recall correctly, France gets approximately 80% of its power via nuclear. It should be interesting to see what happens in the States in the coming years. You might be very much in demand!
Beth
I think Nuclear power is the way to go!
Missie
wow!!!*******
thanks Buck o!
I actually did not know this at all and it is very interesting!
Would you consider writing about it at my blog ?(My blog is about community concerns>)
Hey that is really very very interesting South Carolina huh?
in my opinion we need sooooooo many more nuclear plants and coal into eletricla plants.Do you think the next administration will do this?
natalie
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