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SCE&G asks NRC to withdraw licenses for abandoned V.C. Summer units

South Carolina Electric & Gas Co. has formally requested the U.S. Nuclear Regulatory Commission to withdraw combined operating licenses for the abandoned V.C. Summer nuclear expansion project.

The SCANA Corp. subsidiary told the NRC that it has irrevocably abandoned its interests in V.C. Summer units 2 and 3. Each of the units represent a 1,117-MW reactor.

"This notification is consistent with our plans for abandonment and helps to ensure we qualify for a tax deduction in 2017 so that we can capture approximately $2 billion for our customers to offset the costs of the new nuclear project," incoming SCANA CFO Iris Griffin said in a Dec. 28 statement.

SCE&G, however, will support an application to the NRC to transfer the licenses to Santee Cooper, if the latter decides to become the sole licensee for the project. SCE&G offered to cede its 55% interest in the expansion project to Santee Cooper for no consideration.

Santee Cooper, which is legally known as the South Carolina Public Service Authority, owns a 45% stake in the V.C. Summer units 2 and 3.