SCANA's Big Gamble
The Nuclear Regulatory Commission is expected on Friday to approve only the second license in three decades to build a new nuclear power facility in the U.S. SCANA Corp. (SCG) is expected to get the green light it to build two 1,154 megawatt (electric) AP1000 reactors designed by Westinghouse in South Carolina.
Whether or not SCANA has the capacity and capability to construct these new units is a question on the minds of some observers. The issue is the numbers. While SCANA's proposed reactors are exact duplicates of Southern Co.'s (SO) AP1000 currently under construction at Georgia Power's Vogtle site, the utilities are in very different financial conditions. Southern is the nation's largest domestic utility. It has a market capitalization of approximately $38 billion and an enterprise value of almost $60 billion. At 45.7%, Southern only owns a minority interest in the new Vogtle units....599 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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