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The News That Matters about the Nuclear Industry

Georgia Power and parent Southern Company scratching around for nuclear bailout

Atlanta Journal Constitution 25th May 2017, Georgia’s nuclear mess is about to get way messier now that the chief contractor on the Plant Vogtle expansion has fled to bankruptcy court. So a new race is underway to see who can nab enough bubble wrap to insulate themselves from a fresh round of costly shocks.

So far, Georgia Power has sidestepped virtually all of the financial reckoning on its own project. Billions of dollars in past Vogtle overruns and delays will be borne by Georgia consumers or already have been by the contractor, Westinghouse
Electric Company.

I suspect leaders of Georgia Power and parent Southern Company would like to keep dodging on this one. A partial federal bailout from taxpayers perhaps? Southern CEO Tom Fanninghas been spending a lot of time in Washington D.C. talking about continuation of nuclear energy development being in “our national security interest.”  http://www.myajc.com/business/kempner-radioactive-question-looms-over-georgia-nuclear-mess/LO9kYtkyPgtRfer2SpU8rL/

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May 27, 2017 - Posted by | general

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