Duke looks to take a share in V.C. Summer 2&3

21 July 2011

Duke Energy has signed a letter of intent with Santee Cooper that could see it take a small stake in the planned V.C. Summer AP1000 reactor project in South Carolina. V.C. Summer units 2 and 3 are projected to come online in 2016 and 2019.

Santee Cooper currently owns 45% of the V.C. Summer expansion project, while South Carolina Electric & Gas (SCE&G) owns the remaining 55% percent. Santee Cooper announced plans to sell part of its stake in the project in 2010.

In mid-July, Duke Energy informed the Public Service Commission of South Carolina about the letter of intent, which could see it take a 5-10% share of the capacity and output from the proposed reactors. (This is equivalent to around 10-20% of Santee Cooper’s ownership interest).

“The letter of intent provides a path for Duke Energy to conduct the necessary due diligence to determine if future participation in this project would be beneficial for its customers,” Duke Energy said in a statement.

In March 2011, Santee Cooper signed a letter of intent with Orlando Utilities Commission for a similar proportionate share of the its interest in the V.C. Summer project.

Meanwhile, Duke Energy says that it continues work on development activities for its proposed Lee Nuclear Station and says it anticipates receiving its combined construction and operating license from the U.S. Nuclear Regulatory Commission in the 2013 timeframe. The could see the unit begin operation in 2021. In February 2011, the municipal utility for Jacksonville, Florida brought an option to purchase up to one- fifth of the Lee station for around $2 billion.



FilesReactor-by-reactor Fukushima Daiichi restoration progress summary as of 22 July, from JAIF
Fukushima Daiichi parameters as of 21 July by JANTI



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