A lot of folks are reacting in a lot of ways — mostly negative — to the decision by SCANA and Santee Cooper to abandon their nuclear power project.
We’ve heard a good bit about the $9 billion already spent, the $1.4 billion in rate increases, and all the folks whose jobs depended on the continuation of the project.
But I’d like to see more on one aspect of the decision: The explanation that the utilities bailed because power demand isn’t turning out to be as great as projected.
Is it that the original projections were just entirely unrealistic? Or were the projections sensible at the time, but then rendered inaccurate by the economic collapse of 2008? In which case, assuming we ever fully recover from that, maybe we go back to the kind of growth that was originally projected…
Another way to put it: Is weakened demand a temporary condition, or the New Normal?
I don’t know. I just know that when I hear “low demand,” like the characters on “Seinfeld” reacting to the news that their new shower heads were “low-flow,” I don’t like the sound of that.
I mean, that can’t be good, can it? Doesn’t less power demand track closely with less economic growth? A lot of us have had to adjust to lowered economic expectations in the last few years. News like this seems to tell us, Get used to that; it’s not getting better.
Or does it? I’d like to know more about this. In the meantime, I don’t like the sound of it…