Utilities Vow to Finish Nuclear Reactors Despite Westinghouse Woes

The electric utilities that own two nuclear reactors under construction in South Carolina say they’re committed to finishing the project despite the bankruptcy of builder Westinghouse Electric Co.

State-owned utility Santee Cooper and SCANA Corp. are partners on the project at the V.C. Summer Nuclear Station near Jenkinsville, South Carolina. Now, the utilities have signaled their commitment to keeping the project on track as part of an agreement filed in Westinghouse’s bankruptcy proceedings.

The companies planned an investor call later Wednesday. Both Santee Cooper and South Carolina Electric & Gas Co., SCANA’s chief subsidiary, have raised rates several times to fund the project, which is behind schedule and over the original projected cost.

South Carolina Gov. Henry McMaster said Wednesday he’d discussed the situation with U.S. Energy Secretary Rick Perry.