Electricity Policy

Fri08182017

Last updateThu, 16 Mar 2017 7pm

ISSN 2331-1223  Twitter

Tottering Toshiba assures SCANA, Santee Cooper about Summer nuke completion

Toshiba

Amid turmoil at Toshiba – the resignation of its chairman in the face of $6.3 billion in nuclear losses and possible bankruptcy – the Japanese company and its U.S.-based nuclear subsidiary Westinghouse Electric Co. have assured SCANA Corp. and Santee Cooper that their two-unit V.C. Summer project in South Carolina will be completed, according to World Nuclear News. Nikkei Asian Review said the assurance came as Toshiba seeks to push back the completion schedule for two V.C. Summer units from 2019 to 2020. The project features Westinghouse AP1000 advanced pressurized water reactors. A similar project is underway in Georgia, with two new units at the Southern Co.’s Vogtle station. Westinghouse is also looking to delay the planned startup from 2019 to 2020. Toshiba is getting out of the nuclear construction business, after enormous losses due to Westinghouse’s purchase of architect, engineering and construction firm CBI Stone & Webster. Toshiba bought Westinghouse in 2006 for $5.4 billion, based on hype about a U.S. “nuclear renaissance” that never materialized. The Pittsburgh Post-Gazette commented, “As Toshiba deals with buyer’s remorse, it's not yet clear what all of this means for Westinghouse’s future.”  February 17, 2017

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