Climate Changed
Scana Plunges to Lowest in Almost Two Years on Criminal Probe
- Scana received federal subpoena related to canceled reactors
- Utility faces questions on how much customers will be billed
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Scana Corp. slid to the lowest level in almost two years as the U.S. began a criminal investigation into the $21 billion nuclear power project in South Carolina that the utility owner abandoned two months ago.
The U.S. Attorney’s office in South Carolina is carrying out a grand jury probe that involves agents at the Federal Bureau of Investigation, a Sept. 7 disclosed on Friday by Scana’s partner on the nuclear project, Santee Cooper, shows. The government asked for copies of correspondence, notes and reports related to the V.C. Summer nuclear plant, including a study engineering firm Bechtel Corp. drafted last year suggesting Scana was aware of challenges plaguing the project since early last year.