Skip to main content

V.C. Summer: “A major contributor to the local economy.”

WinnsboroSome happy news is always a good way to kick off the weekend.
Fairfield County officials gathered at the county treasurer’s office Jan. 15 to meet with representatives of the V.C. Summer Nuclear Plant – and receive a check for $23.4 million.
If my local nuclear facility wanted to hand me a few million dollars, that would be a-ok, but this actually speaks to one of the major benefits of having a power plant in the neighborhood.
“We are very pleased that V.C. Summer Nuclear Station continues to be a major contributor to the local economy through property taxes that support schools, roads, and critical public services for the residents of Fairfield County,” said Dan Gatlin, vice president of Nuclear Operations at V.C. Summer.
The article doesn’t say, but I wager Summer is one of the larger employers in Fairfield County, so it has value beyond paying property taxes. And beyond property taxes and employment opportunities, Summer also provides a economic root system for all kinds of offshoot businesses in Fairfield and neighboring South Carolina counties – and I don’t just mean nuclear parts manufacturing. Think eateries and office supplies and businesses that cater to a larger, more diverse population.
Fairfield County Superintendent of Schools J.R. Green was on hand for the ceremony since a large portion of the tax dollars — $12,878,000 — funds education in the county. Just over $20,000 is allocated to the towns of Ridgeway and Winnsboro, combined. Just over $7.7 million goes into the county general fund. Other funding supports the county EMS, fire department and county library.
That $20,000 for two towns could use a little more explanation – seems stingy – but it may be that the county handles most of the general needs for those towns. And if the country improves its infrastructure with increased property taxes, it improves its appeal to other companies that might want to come out their way and set up shop. That nuclear power facility is a good in itself, but it also helps the human ecosystem of an area.

The story skirts around it a bit, but the financial and employment opportunities are only going to get better, as SCANA builds two more reactors at Summer (Nuclear Street has some nice pictures of the construction). That’s a lot of building employment up front and then staffing afterward. So Fairfield County did well in 2012 – but that’s nothing compared to the rest of this decade and beyond.

We’ve made this argument before about nuclear energy plants – that they can represent economic bonanzas for their communities – but it’s really nice to see this demonstrated in a local newspaper – in this case, the Herald Independent, which covers the whole county.

When people want to change direction in energy policy – say, from coal to wind or away from nuclear energy – they do it without thinking of the actual human consequence. But there is consequence – and in a place like Fairfield County, but really anywhere, it would be severe.

Comments

Anonymous said…
They seem to throw in a few pictures of the construction in their investor presentations. The latest one is below but there isn't much new progress. Niether Vogtle or VC Summer are going to make any real progress until the NRC allows them to pour safety related concrete. Vogtle appears to be a little further along, but none of the work they have done has an affect on critical path so it is only for appearances. Vogtle needs to justify their rate increase by showing progress and therefore have advanced non-critical path work in order to give the appearance of progress when none has actually taken place in 6 months.

http://www.scana.com/NR/rdonlyres/1B3B67F9-EDD3-4D2A-A177-6C124D054E24/0/SCANAEEIFormalPresentation.pdf

Popular posts from this blog

Activists' Claims Distort Facts about Advanced Reactor Design

Below is from our rapid response team . Yesterday, regional anti-nuclear organizations asked federal nuclear energy regulators to launch an investigation into what it claims are “newly identified flaws” in Westinghouse’s advanced reactor design, the AP1000. During a teleconference releasing a report on the subject, participants urged the Nuclear Regulatory Commission to suspend license reviews of proposed AP1000 reactors. In its news release, even the groups making these allegations provide conflicting information on its findings. In one instance, the groups cite “dozens of corrosion holes” at reactor vessels and in another says that eight holes have been documented. In all cases, there is another containment mechanism that would provide a barrier to radiation release. Below, we examine why these claims are unwarranted and why the AP1000 design certification process should continue as designated by the NRC. Myth: In the AP1000 reactor design, the gap between the shield bu...

Nuclear Utility Moves Up in Credit Ratings, Bank is "Comfortable with Nuclear Strategy"

Some positive signs that nuclear utilities can continue to receive positive ratings even while they finance new nuclear plants for the first time in decades: Wells Fargo upgrades SCANA to Outperform from Market Perform Wells analyst says, "YTD, SCG shares have underperformed the Regulated Electrics (total return +2% vs. +9%). Shares trade at 11.3X our 10E EPS, a modest discount to the peer group median of 11.8X. We view the valuation as attractive given a comparatively constructive regulatory environment and potential for above-average long-term EPS growth prospects ... Comfortable with Nuclear Strategy. SCG plans to participate in the development of two regulated nuclear units at a cost of $6.3B, raising legitimate concerns regarding financing and construction. We have carefully considered the risks and are comfortable with SCG’s strategy based on a highly constructive political & regulatory environment, manageable financing needs stretched out over 10 years, strong partners...

Wednesday Update

From NEI’s Japan micro-site: NRC, Industry Concur on Many Post-Fukushima Actions Industry/Regulatory/Political Issues • There is a “great deal of alignment” between the U.S. Nuclear Regulatory Commission and the industry on initial steps to take at America’s nuclear energy facilities in response to the nuclear accident in Japan, Charles Pardee, the chief operating officer of Exelon Generation Co., said at an agency briefing today. The briefing gave stakeholders an opportunity to discuss staff recommendations for near-term actions the agency may take at U.S. facilities. PowerPoint slides from the meeting are on the NRC website. • The International Atomic Energy Agency board has approved a plan that calls for inspectors to evaluate reactor safety at nuclear energy facilities every three years. Governments may opt out of having their country’s facilities inspected. Also approved were plans to maintain a rapid response team of experts ready to assist facility operators recoverin...