In March 2008, Southern Company (SO) became the eighth United States company that is electric a 12 months to announce construction of the latest nuclear reactors. The Nuclear Regulatory Commission then expected as much as 33 applications, many of them making use of WestinghouseвЂ™s AP1000 design along with its self-contained cooling system.
A dozen years later on, SouthernвЂ™s couple of 1.1 capacity that is gigawatt at the Vogtle web web site in Georgia would be the only AP1000s under construction in the usa. And also the companyвЂ™s projected date that is startup slid from 2016 to 2022.
There have been currently two reactors that are operating Vogtle, which Southern co-owns with Oglethorpe energy (30 %), Municipal Electric Authority of Georgia (22.7 per cent) and Dalton Utilities (1.6 per cent). While the lovers had been in the beginning fully on board with building devices 3 and 4, helping Southern win the approval associated with Georgia Public provider Commission.
In this June 13, 2014, file picture, an innovative new cooling tower for the nuclear energy plant reactor which is . [+] under construction stands nearby the two reactors that are operating Plant Vogtle energy plant in Waynesboro, Ga. (AP Photo/John Bazemore, File)
Regulators additionally issued monetary safeguards when it comes to resources the vogtle that is original would not enjoy. First, the projected price of $14 billion had been a number that is hard. Major contractors Westinghouse and Shaw Corp will be accountable for price overruns, maybe perhaps maybe not the energy owners.
2nd, the lovers could pass on construction expenses to clients as incurred, instead of as you big price situation at conclusion. That instantly paid down funding expenses, as investors nevertheless remembered the write-down after Vogtle devices 1 and 2 service that is entering 1987 and 1989, correspondingly. (mais…)