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Plant Vogtle nuclear expansion behind schedule and over budget,

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“It’s time to cut our losses now because you are throwing good money after bad,”

Nuclear energy critics assail Plant Vogtle http://www.bizjournals.com/atlanta/news/2012/12/18/nuclear-energy-critics-assail-plant.html
Atlanta Business Chronicle by Dave Williams, December 18, 2012, Georgia’s energy regulators should pull the plug on the Plant Vogtle nuclear expansion rather than make customers keep paying for a project that is behind schedule and over budget, environmental advocates argued Tuesday.
At a public hearing before the state Public Service Commission, opponents of the planned construction of two additional nuclear reactors at the plant south of Augusta, Ga., cited reports submitted this month by an independent construction monitor and a consultant hired by the PSC staff indicating that the $14 billion project faces significant delays that will likely cost hundreds of millions of dollars.

Atlanta-based Georgia Power Co. is the leading partner in the expansion, with a planned investment of $6.1 billion.

The monitor, nuclear engineer William Jacobs Jr., recommended that Georgia Power prepare additional scenarios for potential delays of 24, 36 and 48 months. Jacobs predicted the first reactor would be completed no earlier than June 2017, just more than a year behind the original schedule.

“That doesn’t show a lot of confidence that this project is going to stay on schedule,” saidCourtney Hanson, public outreach director for Georgia Women’s Action for New Directions, an anti-nuclear organization.

“It’s time to cut our losses now because you are throwing good money after bad,” addedAmanda Hill, the group’s managing director.

The more than two dozen speakers at Tuesday’s hearing also included elderly ratepayers living on fixed incomes who criticized the General Assembly for passing legislation three years ago allowing Georgia Power to begin recovering costs associated with the project years before the expanded plant goes into service.

December 22, 2012 - Posted by | business and costs, USA

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