SCE&G Confident It Can Raise Money For Reactors

COLUMBIA, S.C. (AP) - South Carolina Electric & Gas Co. is confident it will be able to raise the money needed to build two new nuclear reactors.

SCE&G and the state-owned utility, Santee Cooper, want to build two reactors in Fairfield County north of Columbia, where they operate one reactor now.

The utilities estimate the project will cost nearly $10 billion.

The South Carolina Public Service Commission will consider approving the reactors next month. The Nuclear Regulatory Commission is expected to make a decision in late 2011 or early 2012. The utilities hope the first reactor would come on line in 2016.

Jimmy Addison is chief financial officer for Scana Corp., SCE&G’s parent company. Addison told The State newspaper he thinks the current financial situation will stabilize and money will be available.

(Copyright 2008 by The Associated Press.  All Rights Reserved.)