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Cost of new units at Vogtle has more than doubled to $30B

Plant Vogtle Units 1 and 2 (rear) and 3 and 4 (fore) in June 2021.
Plant Vogtle Units 1 and 2 (rear) and 3 and 4 (fore) in June 2021.(WRDW)
Published: May. 9, 2022 at 10:56 AM EDT
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WAYNESBORO - Costs for two new units under construction at Plant Vogtle are now projected to cost more than $30 billion, according to a new financial report.

That’s a multimillion-dollar increase from what was projected just three months ago.

Units 1 and 2 at the plant have been operating for decades, while units 3 and 4 have been under construction in recent years. The expansion has been plagued by delays, some due to COVID and others for different reasons.

Vogtle is the only nuclear plant under construction in the United States, and its costs could deter other utilities from building such plants, even though they generate electricity without releasing climate changing carbon emissions.

When approved in 2012, the third and fourth reactors were estimated to cost $14 billion.

The increase in the budget by co-owner Municipal Electric Authority of Georgia wasn’t a surprise.

Lead owner Georgia Power Co. announced delays and $920 million in overruns on March 3.

A few months ago, Georgia Power Co. said the first of the two new reactors might not begin generating electricity until as late as March 2023.

Georgia Power’s 2.6 million customers are already paying financing cost for Vogtle on monthly bills.

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