South Carolina agency wants nuclear cost customer refunds

Markets Associated Press

A state agency wants regulators to outline plans to give customers most of the money South Carolina Electric & Gas Co. expects in compensation for its failed nuclear reactor project.

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The State newspaper reported the Office of Regulatory Staff filed a request Tuesday with the Public Service Commission asking the panel to decide the best way for ratepayers to be paid.

The money could be returned by reducing monthly bills or giving direct rebates.

SCE&G's parent company, SCANA, expects nearly $1 billion from Toshiba, parent company of Westinghouse, whose bankruptcy this year resulted in abandonment of work on two Fairfield County reactors.

SCE&G customers have paid nearly $2 billion for the reactors.

SCANA spokesman Eric Boomhower has said money from Toshiba would be used to offset the project's costs.

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Information from: The State, http://www.thestate.com