Today, SCANA Corporation (NYSE: SCG) and its principal
subsidiary, South Carolina Electric & Gas Company (SCE&G) (combined, the
Company), filed a joint Form 8-K/A with the Securities and Exchange
Commission which provided additional information related to the
Engineering, Procurement and Construction (EPC) contract with
Westinghouse Electric Company, LLC, and a subsidiary of The Shaw Group
Inc., Stone & Webster, Inc., for two 1,117-megawatt nuclear
electric-generating units at the site of the V.C. Summer Nuclear
Station, near Jenkinsville, S.C.
SCE&G and Santee Cooper, a state-owned electric and water utility in
South Carolina, are joint owners and share operating costs and
generating output of the existing V. C. Summer Nuclear Station’s
966-megawatt unit in the proportion of two-thirds and one-third,
respectively. Under a similar arrangement, the new units described above
are to be jointly owned, and operating costs and output will be shared
in the proportion of 55 percent and 45 percent, respectively. As with
the existing unit, SCE&G will be the operator of the new units.
Westinghouse and some of its affiliates provide certain engineering and
fuel fabrication services and certain materials, services and equipment
used at V. C. Summer.
As part of the initial Form 8-K filing dated May 23, 2008, the Company
had provided a total estimated shared cost of approximately $9.8 billion
for the two new nuclear units, including forecasted inflation, owner’s
costs, and contingencies; SCE&G’s 55
percent share of that total is about $5.4 billion. The Form 8-K/A filed
today discloses the contract price for the two units, excluding
inflation, owner’s costs and contingencies, of
approximately $6.4 billion; SCE&G’s 55
percent share of the contract price is about $3.5 billion.
PROFILES
SCE&G is a regulated public utility engaged in the generation,
transmission, distribution and sale of electricity to approximately
646,000 customers in South Carolina. The company also provides natural
gas service to approximately 303,000 customers throughout the state.
Information about SCE&G, including a copy of the BLRA application and
the Form 8-K/A, is available on the company’s
web site at www.sceg.com.
SCANA Corporation, a Fortune 500 company headquartered in Columbia, SC,
is an energy-based holding company principally engaged, through
subsidiaries, in electric and natural gas utility operations and other
energy-related businesses.
