SCE&G customers have already paid $1.4 billion for the SCANA nuclear power plants boondoggle. That comes out to an average of $2,000 paid by each of the 700,000 customers from the nine rate hikes to date.
With $27 of the average person’s power bill going to the now-abandoned project, if SCE&G does not change this rate, that will cost the average customer an additional $19,440 over the next 60 years — giving SCE&G a total of $13.6 billion to recover the balance of $4.9 billion it spent on the failed project.
For the total of $21,440 that customers would pay on average for this abandoned project, they could have purchased solar panels, thereby reducing power consumption and obviating a need for increased generating capacity while lowering their utility bills considerably.
And for these savvy business decisions, top SCANA executives are rewarded with $21.4 million in annual performance-based bonuses. Outrageous.
Craig W. Davis