Scana Corp., already the target of federal and state investigations, said it received a subpoena from the U.S. Securities and Exchange Commission in connection with an abandoned nuclear power project, Bloomberg News reported yesterday. The Cayce, S.C.-based company said that it will “fully cooperate” and offered no further details. Scana is under a federal investigation and a state probe into the expansion of its V.C. Summer nuclear reactor, a project it canceled after costs spiraled to more than $20 billion. Scana may be blocked from collecting billions it spent on the unfinished project, a prospect that could lead it to write down billions or sell itself. The company may have “failed to disclose information that should have been disclosed” when it sought rate increases to fund the project, state regulators said in a filing last month. Scana and its partner, state-owned utility Santee Cooper, halted construction on two new reactors at the plant after its contractor, Westinghouse Electric Co., went bankrupt. The decision leaves Southern Co. as the only utility owner building a nuclear plant in the U.S.
