MINUTES....
TODAY SANTEE
COOPER AND S-C-
E-&-G VOTED TO
CANCEL
CONSTRUCTION OF
A MULTI-BILLION
DOLLAR NUCLEAR
POWER
PLANT.THAT YOU
HAVE ALREADY
BEEN PAYING FOR!
YOU'VE SEEN RATE
INCREASES.AND
HAVE BEEN PAYING
HIGHER ENERGY
BILLS FOR YEARS
TO HELP COVER
THE COST FOR THE
V-C SUMMER
NUCLEAR STATION
BEING BUILT NORTH
OF COLUMBIA.
TODAY NEWS
TWO'S ASHLEY
OSBORNE ASKED
THE UTILITY
COMPANIES.WHAT
HAPPENS TO YOUR
MONEY.NOW THAT
THEY HAVE
ABANDONED THE
PROJECT.
SHE JOINS US NOW
IN STUDIO.
ASHLEY-TODAY
THEY SAID THE
PROJECT WAS TOO
FAR BEHIND AND
BECAME TOO
EXPENSIVE TO
CONTINUE.
THE VOTE WAS
UNANIMOUS TODAY
TO PUT A STOP TO
FOUR YEARS
WORTH OF
CONSTRUCTION ON
THE TWO NUCLEAR
REACTORS.
SANTEE COOPER
SAYS THIS WILL
SAVE THEIR
CUSTOMERS THE 7
BILLION DOLLARS IT
WOULD'VE COST TO
FINISH THE
PROJECT.
BUT THE
COMPANIES HAVE
ALREADY SPENT
BILLIONS...SOME OF
WHICH CAME FROM
YOUR ENERGY
BILLS.
NATS
"Director Wolfe?"
"Yes."
TODAY SCE&G AND
SANTEE COOPER
BLAMED
WESTINGHOUSE IN
PART.
THEY'RE THE
CONTRACTOR THAT
WAS GOING TO
BUILD THE ACTUAL
REACTORS.AND
FILED BANKRUPTCY
EARLIER THIS YEAR.
LAST
WEEK.WESTINGH
OUSE'S PARENT
COMPANY TOSHIBA
SAID THEY'LL PAY
THE UTILITY
COMPANIES 2.2
BILLION DOLLARS.
SANTEE COOPER
SAYS THEY'LL USE
THAT MONEY TO
BENEFIT YOU, THE
CUSTOMER IN THE
FUTURE.
BUT THERE ARE NO
PLANS TO
DIRECTLY
REIMBURSE YOU IN
THE FORM OF A
CHECK OR A
CREDIT ON YOUR
BILL .
THE POWER
COMPANIES HAVE
FACTORED THE
EXPENSE OF THIS
NUCLEAR PLANT
INTO THE RATE YOU
PAY ON YOUR BILL
FOR YEARS.
MOST OF THAT
MONEY IS TIED UP
IN 30-40 YEAR
BONDS TO FINANCE
THE PROJECT
BECAUSE THE
POWER PLANT WAS
SUPPOSED TO
CREATE NUCLEAR
ENERGY FOR AT
LEAST 100 YEARS.
CRITICS LIKE THE
SOUTHERN
ENVIRONMENTAL
LAW CENTER SAY
AT MULTIPLE
POINTS.DECISION
MAKERS PUSHED
RATE HIKES,
IGNORED WARNING
SIGNS AND
DISREGARDED
REQUESTS FROM
CUSTOMERS TO
EASE UP ON THE
EXPENSIVE RATES.
LOCAL LAWYER
BLAN HOLMAN SAID
THIS.
"This is a $9 billion
hole in the ground,
and the only good that
can come from this
would be to revamp
energy policy in South
Carolina. The entire
system is rigged to
reward utilities to take
these massive and ill-
informed risks at the
expense of South
Carolina electric
customers. This can't
continue."
HE ALSO SAYS
ENERGY LEADERS
HAVE THE CHANCE
TO LEARN FROM
THIS EXPENSIVE
MISTAKE AND GAVE
ANOTHER OPTION
FOR GENERATING
POWER.
"We need smaller and
cheaper solar arrays
across the state. That
saves money and
spreads jobs and tax
revenue to more
communities."
SANTEE COOPER'S
PRESIDENT SAID
THIS ABOUT
TODAY'S DECISION.
LONNIE
CARTER/SANTEE
COOPER
PRESIDENT
We're disappointed
that our contractors
have not fulfilled their
obligations to us.
There's no news in
that. And that leads us
today to figure out
how to unwind these
projects and bring
them to a stop and
make sure that our
customers get the
best power cost we
can give them."
THERE ARE STILL A
LOT OF QUESTIONS
FOR PEOPLE IN
SOUTH
CAROLINA.THOSE
OF YOU WHO'VE
BEEN PAYING
THESE HIGH RATES
FOR A PROJECT
THAT JUST LIKE
THAT.IS NO MORE.
SOUTH CAROLINA
SENATOR LARY
GROOMS TOLD ME
TODAY HE EXPECTS
HEARINGS ON THIS
TOPIC IN THE NEAR
FUTURE.
HE SAYS.PEOPLE
WILL WANT
ANSWERS
FOR.WHO MESSED
UP.WHAT
HAPPENED AND
WHO IS
RESPONSIBLE TO
MAKE UP FOR IT.
ASHLEY OSBORNE.
NEWS TWO.
