Nuclear Power was always too EXpensive to meter. But when the Nuclear Choo-Choo Train got going in the 60s everyone was in love with the new technology, the marvelous future, how many decades the plants could run and the massive power produced that the regulators publicly patted the Utility Guys on the back and quietly passed the costs on to ratepayers. This is what should have happened from the very beginning.
Failed nuclear contractor signs $21M deal, working with feds
The chief contractor at a failed multibillion-dollar project to build two nuclear reactors in South Carolina has agreed to pay more than $20 million as part of a cooperation agreement with federal authorities probing the fiasco.
Under an agreement announced Monday by Acting U.S. Attorney Rhett DeHart, Westinghouse Electric Co. will contribute $5 million to a program intended to assist low-income ratepayers affected by the project’s failure. Another payment of $16.25 million will be due before July 1, 2022.
The company will also be required to cooperate with federal investigators still probing the company’s role in the 2017 debacle, which cost ratepayers and investors billions and left nearly 6,000 people jobless.
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