Util­ity pays bonuses to ex­ecs be­fore nu­clear project fails

The Washington Times Daily - - NATION -

COLUMBIA | The com­pany that led

the failed ef­fort to build two new nu­clear re­ac­tors in South Carolina paid its ex­ec­u­tives mil­lions in bonuses, some of it for work on the project, a re­view of fed­eral records shows.

A re­view of fil­ings with the Se­cu­ri­ties and Ex­change Com­mis­sion show SCANA Corp. paid ex­ec­u­tives more than $21 mil­lion in per­for­mance bonuses over the past decade, in­clud­ing money for work on the V.C. Sum­mer nu­clear sta­tion north of Columbia, The State news­pa­per re­ported.

The fil­ings do not say ex­actly how much of the $21 mil­lion was based on the failed project.

SCANA’s South Carolina Elec­tric

& Gas Co. and the state-owned util­ity San­tee Cooper last week aban­doned plans for new re­ac­tors, for which they al­ready paid $9 bil­lion. Much of the money al­ready was paid by cus­tomers.

The util­i­ties blamed con­struc­tion de­lays and cost over­runs. The prob­lems came to a head when lead con­trac­tor West­ing­house filed for bank­ruptcy pro­tec­tion.

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