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Scana Reactors to Cost $10 Billion More Than Gas Plants

Scana Corp., owner of South Carolina’s largest power and natural gas utility, would save consumers almost $10 billion over 40 years by scrapping two nuclear reactors it’s constructing and instead building gas-fired plants, according to a report.

The case for Scana’s Summer nuclear project “could not be more abysmal for ratepayers,” Mark Cooper, an economic analyst with the Vermont Law School’s Institute for Energy and the Environment, said in a statement today. The reactors face $283 million in new construction costs, recession-flattened demand and a 73 percent drop in gas prices since regulators approved the project in 2009, according to the report.