SCANA updates changes in V.C. Summer nuclear timetable

SCANA (NYSE:SCG) currently expects that the first of its two new nuclear reactor units under construction at the V.C. Summer station in South Carolina will come online in either late 2017 or the first quarter of 2018.

That’s attributed in part to the previously-noted delay in “submodules” to the site, SCANA officials said during the company’s Oct. 31 earnings conference call.

“While we do not have a specific in-service date, we are confident this new range for Unit 2 is within the 18-month PSC [South Carolina Public Service Commission] allowed construction contingency,” the company said.

The previous in-service target date was March 2017. SCANA officials said that the Unit 2 reactor vessel is one of the components that recently arrived at the site.

Units 2 and 3, both roughly 1,100-MW, will be built alongside the existing 965-MW unit.

SCANA announced earnings for 3Q13 of $131m, or basic earnings per share of 94 cents, compared to $122m, or basic earnings per share of 93 cents, for 3Q12.

Santee Cooper is a 45% partner with SCANA’s South Carolina Electric & Gas (SCE&G) in the nuclear units. Santee Cooper is in talks to sell a portion of its share to Duke Energy (NYSE:DUK).

About Wayne Barber 4201 Articles
Wayne Barber, Chief Analyst for the GenerationHub, has been covering power generation, energy and natural resources issues at national publications for more than 20 years. Prior to joining PennWell he was editor of Generation Markets Week at SNL Financial for nine years. He has also worked as a business journalist at both McGraw-Hill and Financial Times Energy. Wayne also worked as a newspaper reporter for several years. During his career has visited nuclear reactors and coal mines as well as coal and natural gas power plants. Wayne can be reached at wayneb@pennwell.com.