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Failed Plant's Shareholders Want $21M in Bonuses Back

The bonuses were called "appalling and disturbing."

A shareholder is suing a South Carolina utility, asking 12 executives return $21 million in bonuses connected to the canceled construction of two nuclear reactors.

John Crangle of the ethics watchdog group Common Cause called the bonuses appalling and disturbing, given the bad decisions made by the executives of SCANA, the parent company of South Carolina Electric & Gas.

SCE&G and state-owned Santee Cooper decided to end construction on the two reactors at the V.C. Summer plant after jointly spending nearly $10 billion on construction and charging customers more than $2 billion in interest fees since 2009.

Crangle's suit points out SCANA stock has fallen 20 percent this year. The stock fell 7 percent on Wednesday alone after state regulators were asked to stop the utilities form charging ratepayers for the unbuilt reactors.

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