Nuclear Energy Plants in South Carolina Struggles to Receive Funds

Published By : 14 Aug 2017 | Published By : QYRESEARCH

South Carolina is building two nuclear reactors to produce sustainable energy. However, the expected cost increases for the customers would be much greater. The state is trying not to opt for more rate hikes and is searching for new buyers that could complete the construction of the project. The plant was originally planned to be built at about $11 billion and it is expected that the cost will be doubled along with the delay of three years due to bankruptcy of Westinghouse Electric Co., its technology supplier.

Complications Related to the Construction of Nuclear Power Plants

Since 2013, five nuclear power plants have been shut down worldwide, due to the accidents happening. The construction of this project is being opposed by various masses as the debate for nuclear energy against coal and natural gas is still in the progressing stage. Many environmental organizations are motivating the technologists to work on renewable energy rather than working on nuclear energy.

19 percent of the electricity in the United State is powered by nuclear power. 6 percent of this energy is expected to shutter in the coming future. Santee Coope, also known as South Carolina Public Service Authority, is South Carolina's state owned electric and water utility owns 45% shares of the project, and dropping down the shares and convincing other utilities to buy the shares. South Carolina Gas & Electric (SCG&E) is the other shareholder, owing 55% of the project. Nevertheless, Governor Henry McMaster said that he is contacting neighboring utilities who serve in nuclear energy.

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