Utility drops bid to recoup billions after bailing on plant

COLUMBIA, S.C. – A utility is suspending its request to recoup billions more from customers for a South Carolina nuclear power project it bailed on last month.

South Carolina Electric & Gas on Tuesday voluntarily withdrew its request that state regulators approve its plans to abandon construction at V.C. Summer Nuclear Station north of Columbia. But utility executives say their plans haven’t changed.

SCE&G and state-owned utility Santee Cooper decided July 31 to halt construction of the project they’ve jointly spent $10 billion on, much of it paid by customers.

SCE&G executives say Tuesday’s move allows legislators more time to review why the utilities made that decision.

The utility had asked state regulators to rule quickly. As filed, state law required a ruling by February or the petition would have been automatically approved.