Development of two new nuclear units in Texas could be delayed or put further at risk after estimates for the reactors rose 30% last month to $17 billion. The price escalation shocked San Antonio, Texas, municipal utility CPS Energy, which has a 40% stake in the South Texas Project in Matagorda County. The company’s board of trustees ordered an investigation into whether information about the price escalation for the 1,358- MW advanced boiling water reactor units was kept hidden. “A cost estimate that exceeds our preliminary total project cost of $13 billion is not acceptable and will result in CPS
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.