The piece I just posted on the impending approval of the two new units at the Vogtle nuclear power plant in Georgia might have been ‘happy talk’ by Georgia Power’s parent company, Southern Co. They may have been attempting to blunt any worries raised by a report issued by the Georgia Public Services Commission’s construction monitor earlier this week. As Bloomberg Businessweek reported yesterday:
The Southern Co. continues to face “significant challenges” building the country’s first brand-new nuclear plant on time and without exceeding its share of the roughly $6 billion budget, a state watchdog said in a report released Monday.
Vogtle is already considerably behind schedule, according to the report:
Company officials planned to have the first of the new reactors effectively complete by April 2016, but that schedule has now slipped five months, said nuclear engineer William Jacobs Jr., a construction monitor for the Public Service Commission, in his report. Many of Jacobs’ concerns were essentially unchanged since he issued similar findings in June. The project is being built using borrowed money, so construction delays might increase financing costs and ultimately raise the pricetag for utility customers.
So far, the companies building the expanded Plant Vogtle have failed to meet many key deadlines, Jacobs said. Georgia Power officials are now considering whether the construction schedule can be compressed to make up for lost time.
Here’s a link: http://www.businessweek.com/ap/financialnews/D9RF27G80.htm