Columbia, SC, April 29, 2004 - South Carolina Electric & Gas Company (SCE&G), principal subsidiary of SCANA Corporation (NYSE: SCG), announced today that the Nuclear Regulatory Commission has approved the company's application for a 20-year license extension for its V.C. Summer Nuclear Station.
The new license, which SCE&G expects to receive next week, will allow the plant to operate through 2042. SCE&G applied for the new license in the fall of 2002.
"There are so many benefits that come with having the plant's license extended," Senior Vice President of Nuclear Operations Steve Byrne said. "It allows us to keep almost 700 megawatts of power on the grid. This delays the need for new plants on our system, and that means lower rates for our customers.
"Additionally, the plant provides nearly 750 jobs in the area and contributes millions of dollars annually to the Fairfield County tax base."
The V.C. Summer Nuclear Station began operation in 1982. SCE&G owns two-thirds of the plant's 1,000-megawatt capacity while the South Carolina Public Service Authority (Santee Cooper) owns the remaining third.
Summer Station represents approximately 14 percent of SCE&G's generating capacity. At full operation, the plant is capable of providing power to more than 650,000 homes.
SCE&G is the largest subsidiary of SCANA Corp., an energy-based holding company principally engaged, through subsidiaries, in electric and natural gas utility operations, telecommunications and other energy-related businesses. Information about SCANA is available on the Company's web site at www.scana.com.