SCE&G To Voluntarily Withdraw its New Nuclear Abandonment Petition

South Carolina Electric & Gas Company (SCE&G), principal subsidiary of SCANA Corporation, announced that it will voluntarily withdraw its Abandonment Petition from the Public Service Commission of South Carolina that was made under the Base Load Review Act (BLRA) concerning SCE&G’s new nuclear project.

Over the past two weeks, SCE&G management has met with various stakeholders and members of the South Carolina General Assembly, including legislative leaders, to discuss the abandonment of the new nuclear project and to hear their concerns. SCE&G’s withdrawal decision was in response to those concerns, and to allow for adequate time for governmental officials to conduct their reviews.

“We have been meeting with governmental officials and various stakeholders since our announcement to abandon the new nuclear project,” said Kevin Marsh, SCANA Chairman and CEO. “The purpose of these ongoing meetings is to discuss their concerns and to explain the path that led us to the abandonment decision. While ceasing construction was always our least desired option, based on the impact of the bankruptcy of Westinghouse on our fixed price construction contract, the results of our evaluation of the cost and time to complete the project, and Santee Cooper’s decision to suspend construction, abandonment was the prudent decision.”