WAYNESBORO, Ga. - The two new reactors at Plant Vogtle will cost another billion dollars.
The parent company of Georgia Power Co. says its shareholders will take a $460 million loss on the overrun. Other owners will absorb the remainder on a project that will now cost customers more than $27 billion.
The news came from Georgia Power’ announcement of a revised schedule and cost forecast for the Vogtle Units 3 and 4 expansion project.
The company currently projects a Unit 3 in-service date in the second quarter of 2022 and a Unit 4 in-service date in the first quarter of 2023, representing a three- to four-month shift for each unit.
Units 1 and 2 have been in operation for decades but Units 3 and 4 have been under construction in recent years.
Unit 3 direct construction is now 99 percent complete, with the total Vogtle 3 and 4 expansion project approximately 93 percent complete.
The company says the schedule and cost revisions are a result of “productivity challenges” and additional time for testing and quality assurance.
Unit 3 “hot functional testing” has been successfully completed with no significant issues identified, which Womack called a critical step toward completion. During hot functional testing, plant systems achieved normal operating pressure and temperature, without nuclear fuel, to verify the successful operation of reactor components and systems together.
“Georgia Power is focused on safety and quality as we complete this project,” said Chris Womack, chairman, president and CEO of Georgia Power. “Vogtle 3 and 4 remains a critical investment for the state to provide low-cost, reliable and emissions-free electricity for the state of Georgia for 60 to 80 years. This is too important to our customers, our state and our nation for us not to get it right, and we will.”
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