nuclear-news

USA tax-payers to fork out $6.5 billion for Vogtle nuclear power plant

Nation’s first new nuclear plant expected to secure $6.5 billion in federal loan guarantees By MATTHEW DALY, Dallas News, The Associated Press 18 February 2014 WASHINGTON — The Energy Department is poised to approve $6.5 billion in federal loan guarantees for the first nuclear power plants built from scratch in this country in more than three decades. Energy Secretary Ernest Moniz was expected to announce final approval of the deal at a speech on Wednesday, a day before he visits the $14 billion Vogtle nuclear plant now under construction in eastern Georgia.

Three government officials familiar with the deal confirmed its details Tuesday. They asked not to be identified because the deal has not been made public.

Atlanta-based Southern Co. is building the plant with several partners about 30 miles southeast of Augusta, Ga. The project is widely considered a major test of whether the industry can build nuclear plants without the endemic delays and cost overruns that plagued earlier rounds of building in the 1970s. Vogtle was originally estimated to cost around $14 billion, but government monitors have warned the final cost is likely to be higher……..

Owners of at least four nuclear reactors have shuttered plants in recent months or announced plans to do so, including California’s troubled San Onofre nuclear plant. Utilities have decided it is cheaper to close plants rather than spend big money fixing them and risk the uncertainty of safety reviews……..http://www.dallasnews.com/business/energy/20140218-nation-s-first-new-nuclear-plant-expected-to-secure-6.5-billion-in-federal-loan-guarantees.ece

February 19, 2014 - Posted by Christina Macpherson | Uncategorized