as informed in MIT Technology Review believes a Westinghouse bankruptcy means an end to new nuclear construction in the United States.
Reuters also reports exclusively on preparations utilities are making for the potential bankruptcy of Westinghouse.
Both the Vogtle and VC Summer plants are years behind schedule and costs are mounting.
Dive Insight:Utilities and other parties are gearing up to deal with the ensuing fallout if Westinghouse files for bankruptcy.
The company is managing construction of new nuclear generation at the Vogtle plant in Georgia and V.C.
as informed in Our best guess is that this fixed price construction guarantee has doomed Westinghouse and prevented other potentially willing buyers from stepping in.
It appears that Westinghouse offered both utilities a fixed price contract for these new nuclear plants.
First, we expect that they will complete both nuclear construction projects.
International news services now report that Japan’s Toshiba Corporation is preparing to make a chapter 11 bankruptcy filing for its Westinghouse Electric subsidiary as soon as this Monday, March 27.
Perhaps, more likely, a Westinghouse bankruptcy means abrogation of the fixed price contracts signed with Southern and SCANA.
as informed in Toshiba (TOSBF) said the Chapter 11 bankruptcy filing will limit its exposure to future losses at Westinghouse.
U.S. nuclear company Westinghouse Electric is filing for bankruptcy, its Japanese owner Toshiba said Wednesday.
The bankruptcy filing is the latest embarrassment for the two industrial giants.
Westinghouse’s bankruptcy filing “is the only way for Toshiba to limit or determine the amount of loss at this point,” he said.
Huge losses at Westinghouse have thrown its survival into doubt and raised questions about the future of the two U.S. nuclear power projects.
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