As they escorted reporters on a tour of two Westinghouse AP1000 reactors under construction at the V.C. Summer nuclear plant, South Carolina Electric and Gas representatives said the project is forecast to come in under budget, despite being behind schedule.
In financial documents released earlier this year, SCE&G parent company Scana forecast that spending through the end of 2013 would come in $173 million under budget, while the project cost at completion would be roughly the same as the amount approved by state regulators. The Associated Press reported on Wednesday that current estimates now place Scana's share of the total cost of the reactors at $5.8 billion, which is $550 million less than earlier estimates. The company owns 55 percent of the project.
In June, Scana announced completion of unit 2 at the plant would be pushed back from March of 2017 to late 2017 or early 2018. WLTX news quoted SCE&G executive Stephen Byrne as saying the delay stems from a manufacturing plant in Louisiana formerly owned by Shaw. But he noted the completion is still within the 18-month grace period allowed in its agreement with South Carolina regulators.