nuclear-news

Future nuclear power plant development in the U.S. looks dismal as cost overruns and multiyear delays plague four new reactors under construction in Georgia and South Carolina.

Southern Co. , the Atlanta-based power utility that dominates much of the Southeastern U.S., recently told Georgia regulators that costs have ballooned by $1.4 billion for its minority stake in the Vogtle nuclear power plant expansion in Waynesboro, Ga. The company’s Georgia Power utility is now on the hook to spend $7.5 billion for its 46% share, while municipal utilities own the rest.

Southern is trying to recoup some of the cost from its vendors, but the company recently notified the state utility commission that it may try to pass on much of the expense to customers, protecting its shareholders from the hit.

The company’s disclosure shines a light on a persistent industry problem. What was once seen as a major strength of new nuclear reactor designs—a streamlined construction method —is now proving to be an Achilles’ heel……http://www.wsj.com/articles/nuclear-power-firms-feel-squeeze-1425591380