nuclear-news

Nuclear costs hit energy giant Southern Co.

Skyrocketing costs bury Southern Co. Kristi E. Swartz, E&E News reporter       Energywire: Thursday, February 23, 2017 The financial fallout of Toshiba Corp.’s nuclear construction business has now hit Southern Co.’s nuclear expansion project in Georgia.

Meanwhile, the Atlanta-based energy giant said its next-generation coal project in Mississippi still needs a couple of weeks before it is fully operational.

Those were just two of the major announcements from Southern as it reported its 2016 earnings yesterday. The company also filed a 900-plus-page annual report with the Securities and Exchange Commission, and its Mississippi Power subsidiary submitted an economic viability analysis on the Kemper County energy facility………

There is much discussion over Vogtle’s [nuclear plant’s] cost and schedule after Toshiba said last week it would book a $6.3 billion write-down from its nuclear construction business, which is tied to Vogtle and a project in South Carolina.

Scana Corp.’s South Carolina Electric & Gas Co. announced its units at V.C. Summer were roughly eight months behind.

Executives also said they were reviewing all options on how to finish the reactors if Westinghouse cannot. Toshiba and Westinghouse have told Scana and Southern that they intend to see the projects through……http://www.eenews.net/stories/1060050444

February 25, 2017 - Posted by Christina Macpherson | business and costs, USA