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NRC terminates licenses for abandoned V.C. Summer reactors

The U.S. Nuclear Regulatory Commission has terminated the combined operating licenses for the abandoned V.C. Summer nuclear reactors in Fairfield County, S.C.

The NRC in a March 13 notice in the Federal Register said it sent a letter on March 6 terminating the licenses for V.C. Summer units 2 and 3.

In December 2017, South Carolina Electric & Gas Co., or SCE&G, formally requested the NRC withdraw combined operating licenses for the nuclear expansion project.

SCE&G and project partner Santee Cooper, known legally as South Carolina Public Service Authority, decided in late July 2017 to halt construction of the two 1,117-MW reactors after determining the project would cost more than double its original price tag and would not meet the deadline for federal production tax credits.

The SCANA Corp. utility, which owns a 55% interest in the unfinished reactors, said it would support an application to the NRC to transfer the licenses to Santee Cooper, if the state-owned utility decides to become the sole licensee for the project.

Santee Cooper in late January said it will support the decision to terminate the licenses. "These licenses really have no value to us. In fact, they have the exact opposite," Santee Cooper interim Chairman Charlie Condon said at a meeting of the board of directors.

Santee Cooper is looking to sell nuclear parts and unused equipment at the site and use the sale proceeds to help pay off its $4 billion in nuclear construction debt.

SCANA and SCE&G are subsidiaries of Richmond, Va.-headquartered Dominion Energy Inc.