Thursday, October 7, 2010

Nuclear plant expansion in doubt

Duke Energy, Progress Energy Seek Stakes in Sumner Nuclear Plant
Duke Energy CFO Lynn Good and Progress Energy CFO Mark Mulhern said their companies would be willing to replace Santee Cooper as minority stakeholder in the two-unit expansion of South Carolina Electric & Gas's V.C. Sumner nuclear plant, The State reported. Good was quoted as saying: "We would look at the plant if it became available."

Fitch Ratings senior director Chris Jumper speculated that Santee Cooper will decide to sell part of its 45-percent stake by the end of the year. Santee Cooper spokeswoman Mollie Gore said that with demand decreasing and uncertainty about future government regulation, her utility was going to "review our options to make sure we are acting in the best interest of our customers." South Carolina Electric & Gas spokesman Eric Boomhower said: "We believe one or more additional parties would be interested in working on a joint-owned venture" at Sumner.
The State (Columbia, S.C.), Oct. 6.
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