SCANA Hit with New Subpoena From SEC
SCANA Corp., already under federal and state scrutiny for how it handled the now-abandoned V.C. Summer nuclear expansion, has been served with a document subpoena by the U.S. Securities and Exchange Commission (SEC).
SCANA said in a news release that it intends to fully cooperate with the investigation of the nuclear project. The development follows a drastic drop in the company’s share price in late September.
SCANA and project partner Santee Cooper in mid-September received federal subpoenas for documents associated with a much-guarded February 2016 assessment report conducted by Bechtel, documentation of meetings with the construction and civil engineering firm, and documentation of site walkdowns and real-time observations at the half-built project.
South Carolina lawmakers on September 26 urged state law enforcement to conduct a criminal investigation into how the project was handled. The measure came after several legislative committee hearings, many focused on the Bechtel audit. At one point, state lawmakers threatened to subpoena if the utilities didn’t release it.…