PITTSBURGH, Dec. 5, 2016
– Westinghouse Electric Company and South Carolina Electric & Gas Company (SCE&G), the principal subsidiary of SCANA Corporation (NYSE: SCG), have received the Dispute Resolution Board’s (DRB) decision on the construction milestone payment schedule for the two nuclear construction projects at V.C. Summer Station in Jenkinsville, S.C.
Following a hearing on Nov. 9, Westinghouse submitted its final proposal to the DRB for a milestone payment schedule that complies with the DRB’s Sept. 30 Order to provide a reasonable, equitable, manageable and simple schedule. The Order received on Friday, Dec. 2, instructs both parties to use the approved methodology for payment upon achievement of previously agreed upon milestones for the remainder of the construction period. The total payments remain consistent with the October 2015 agreement between the parties.