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The Failure of Westinghouse
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Westinghouse Electric Company (WEC) filed for chapter 11 bankruptcy on March 29, 2017. The bankruptcy arose from billions of dollars of cost overruns on four nuclear power plants (NPPs) it was designing and building for two utilities in the United States. The cost overruns were a direct result of a completely new NPP design, the AP1000, and its innovative modular construction. Although WEC's core engineering intellectual content would live on (that was in part the objective of the chapter 11 process), many questioned whether WEC's failure didn't signal the end of nuclear energy for electrical power generation.