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Rewarding failure: Taxpayers on hook for $12 billion Vogtle nuclear boondoggle.

The Hill 2nd April 2019 Rewarding failure: Taxpayers on hook for $12 billion nuclear boondoggle.
Vogtle’s nuclear expansion is billions of dollars over budget, its
completion is far from certain, and the federal government is once again
coming to the rescue. In March, Secretary Perry announced the finalization
of $3.7 billion in taxpayer-backed federal loan guarantees for the Vogtle
project. This came over repeated objections by taxpayer and consumer
watchdog organizations and despite numerous serious hurdles remaining for
the only new nuclear power project still under construction in the United
States. More importantly, these newly-finalized loan guarantees were on top
of $8.3 billion in federal loan guarantees that the project partners,
Southern Company’s Georgia Power, Oglethorpe Power Corporation, and the
Municipal Electric Authority of Georgia (MEAG Power), previously secured,
bringing the total to $12 billion.


April 4, 2019 - Posted by | politics, USA

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