- Target:
- South Carolina Energy Commission, South Carolina State Assembly
- Region:
- United States of America
- Website:
- www.bizjournals.com
VC Summer was officially shut down on 07/31/2017, after Westinghouse, the main contractor had filed for bancruptcy and Santee Cooper had pulled out of the venture due to 75% over budget costs and other costs from the bancruptcy of Westinghouse. The State Assembly allowed via legal measures that all the financial risks for this venture were placed on the shoulders of the already financially overburdened citizens of the State of South Carolina.
The consequences are as follows:
a) the taxpayer has paid already via SCE&G increases ( 9 times) more than 1 billion dollars into the project and will be held accountable for another 4 billion dollars for the closure and clean up of this unfinished site.
b) the taxpayer will face the consequential costs of nearly 6,000 suddenly displaced and fired employees.
c) the taxpayer will have to provide for the unemployment payments and the other necessary benefits for those fired employees until they can find employment.
d) Fairfield county faces another major economical crisis that was not caused by their fault.
We, the undersigned call on the South Carolina State Assembly to conduct a thorough investigation into the failing of the VC Summer Nuclear Power Plant Project and ask the Assembly to provide an outline of legislative measures to ensure that the South Carolina taxpayers are not held accountable for failed business ventures promoted by South Carolina State Assembly members and businesses.
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