Nuclear Update: Altered Audit Cost SC Ratepayers $800 Million
The utility building the now-abandoned V.C. Summer nuclear plant in South Carolina covered up the severity of construction problems, and used the deception to suck another $800 million out of ratepayers.
Investigations are now underway of the history of decision-making which for so long continued construction of that massive $2 billion mistake. These inquiries are bringing to light actions by the plant’s backers that effectively censored an audit report which should have alerted investors and regulators to the severity of the plant’s problems.
The more the public learns of the fiscal chicanery involved in justifying renewed public investment in commercial nuclear power, the clearer it becomes that renewable sources like wind and solar are the economically sound way to go.