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Thursday
Aug102017

Utility Executives Got $21M Bonuses after Failed Nuke Construction

A review of federal records shows the company that led the failed effort to build two new nuclear reactors in South Carolina paid its executives millions in bonuses, some of it for work on the project.

The State newspaper reported a review of filings with the U.S. Securities and Exchange Commission show SCANA Corp. paid executives more than $21 million in performance bonuses over the past decade, including money for work on the V.C. Summer nuclear station north of Columbia.

SCANA's South Carolina Electric & Gas Co. and the state-owned utility Santee Cooper last week abandoned plans for new reactors, for which they already paid $9 billion. Much of the money already was paid by customers.

A SCANA spokeswoman told the newspaper the company doesn't talk about employees' pay.

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