The cost of a new natural gas power plant in South Carolina has doubled to $5B. (Post and Courier)
The price tag for the Canadys facility—a joint venture between Santee Cooper and Dominion—has skyrocketed from $2.5B to $5B as global demand for combustion turbine engines pushes costs higher.
It’s simple supply-side economics: With utilities worldwide scrambling to replace coal and power data centers, manufacturers like GE Vernova, Siemens Energy, and Mitsubishi are being overwhelmed with multiyear backlogs.