Energy Companies Have Spent Billions on Projects That Go Nowhere

Ohio’s high-profile bailout of nuclear plants is just one of several questionable schemes between lawmakers and energy companies.

As reported by Akela Lacy at The Intercept.

The two new build reactors cancelled half-built at Summer Units 2 and 3 in South Carolina, at a loss of $9 billion to ratepayers, is discussed in the article.

So too the two new build reactors at Vogtle, Georgia -- Units 3 & 4. Their actual cost to build, $28 billion, is twice the initial price tag estimate of $14.1 billion. The reactors are five years behind schedule, and still under construction. $12 billion of U.S. federal taxpayer backed loan guarantees are wrapped up in the project.