Report: Vogtle backers ask Trump to aid nuclear plant expansion
http://www.utilitydive.com/news/report-vogtle-backers-ask-trump-to-aid-nuclear-plant-expansion/449218/Aug. 14, 2017
Dive Brief:
* Supporters of Southern Co.'s imperiled Vogtle nuclear project asked the Trump administration last week to aid its completion, Bloomberg reports, as a deadline looms for the company to decide its fate.
* The backers, reportedly including a Georgia utility regulator, argued for an acceleration or increase in federal loan payments to the plant, the news outlet reported from unnamed sources. Southern also wants Congress to extend federal tax credits for nuclear construction.
* Southern Co. subsidiary Georgia Power is expected to make a recommendation to regulators at the end of this month on whether to continue development of the Vogtle expansion as part of its regular construction monitoring reports.
Dive Insight:
Costs are spiraling for all parties involved in the Vogtle nuclear expansion. Earlier this month Southern indicated in a filing with the Securities and Exchange Commission that the entire project would likely top $25 billion dollars and could reach $27 billion.
When proposed in 2008, Southern estimated the plant would cost about $14 billion....
...In June, its parent company Toshiba agreed to pay the owners $3.68 billion whether the plant is completed or not.
Last week, however, Oglethorpe told the SEC that it doubts it will receive those payments. The company, in a filing reported by WABE, told regulations that it is worried “about Toshiba's ability to continue as a going concern.”...
