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June 19, 2017

Southern, Westinghouse strike $3.7B deal to complete Vogtle nuclear plant

  • Industry
  • Energy

Utility Dive – Georgia Power and its parent company, Southern Co., have reached an agreement with Westinghouse Electric to complete the long-delayed Vogtle nuclear plant expansion, but the ultimate fate of the plant remains unclear.

Under terms of the agreement, Westinghouse parent Toshiba has guaranteed $3.68 billion in payments to Georgia Power for completion of the project. However, the Wall Street Journal reports a Georgia Public Service Commission consultant filed a report last week concluding that continued development of the Vogtle expansion is not economic and should be halted. 

Georgia Power could abandon the project if regulators find it is not cost effective. Toshiba is reportedly working on reaching a similar agreement with SCANA Corp., to complete construction of the Summer nuclear project it is building in South Carolina.

Read more at Utility Dive