Nuclear is Always Over Budget and Late On Schedule, South Carolina Screwed By Nuke

The rate increases tied to the expense of the two new nuclear reactors have been:

2009: 1.5 percent
2010: 2.3 percent
2011: 2.4 percent
2012: 2.3 percent
2013: 2.87 percent
2014: 2.82 percent
2015: 2.8 percent (1)
(1) Requested, not approved

SOURCE: SCANA Corp.

700,000 customers at $145 per month (residential, but based only 1000kWH and no other basis given by the spokesman) and lets say the commercial is equal in power consumption and cost to the residential, what kind of money are we talking about here?

$2.89 Billion!   For Financing Only
Talk 

The spokesman had the audacity to claim that charging the customers more will save them "billions", lying nukist!

“These increases will occur whether the final project cost comes in above or below our initial forecast,” Boomhower said. “It’s about recovering financing costs, not construction costs. Recovering financing costs while construction is ongoing, as opposed to waiting until the project is complete, saves our customers billions of dollars over the life of the plant.”

 Overall, SCE&G electricity rates have increased 27.7 percent since 2009, Boomhower said.

Read more here: http://www.thestate.com/news/business/article22839525.html#storylink=cpy

 http://www.thestate.com/news/business/article22839525.html

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In this other article, the utility states that they are overbudget by $1B, but that was mitigated by low interest rates, and because fewer plants are being prusued in the US (who could have foreseen that, lol) that they will fleece the US citizen for some production tax credits, all to the tune of $2.6B

Really now?  2.6B in savings but still $1B over budget, sheesh!
http://www.powermag.com/v-c-summer-nuclear-expansion-costs-to-surge-by-nearly-1b/

 

Read more here: http://www.thestate.com/news/business/article22839525.html#storylink=cpy