![]() Nuclear Regulatory Commission in March completed a follow-up inspection of wiring problems at the third reactor and signed off that problems it identified in November had been fixed, returning the reactor to its less intensive baseline inspection regime. “Cost sharing is imminent, however, until the parties reach agreement, Oglethorpe will continue to pay its full share of the construction costs as billed by Georgia Power, but will do so under contractual protest,” Oglethorpe CEO Mike Smith said in March.Īll the owners did vote to continue construction on Feb. The owners are in talks aimed at resolving their disagreements. Georgia Power is disputing the cost threshold at which it must shoulder more of the burden and saying it shouldn’t have to pay the other owners’ share of extra costs stemming from COVID-19. ![]() Southern has acknowledged it will have to pay at least $440 million more to cover what would have been other owners’ costs, and has said another $460 million is in dispute. MEAG also said Friday it wants to freeze its costs, but didn’t say how much it sought to shift to Georgia Power. Oglethorpe wants to freeze its costs at $8.1 billion, selling 2% of the reactor to Georgia Power in exchange for Georgia Power paying $400 million more in costs. In exchange for paying more of the costs, Georgia Power would own a larger share of the reactors. To protect themselves, the other owners signed an agreement with Georgia Power in 2018 specifying that if costs reach a certain point, the other owners can choose to freeze their costs at that level. The cost of raw uranium contributes about 0.0015/kWh to the cost of nuclear electricity, while in breeder reactors the uranium cost falls to 0.000015/kWh. Georgia Power’s customers, as well as some Oglethorpe customers, are already paying the costs of Vogtle. But Oglethorpe, MEAG and Dalton don’t have shareholders, meaning customers are fully exposed to overruns. Now the third reactor is set to begin operation in March 2023, and the fourth reactor is set to begin operation in December 2023.Ītlanta-based Southern Co., which owns Georgia Power, has been charging increasing shares of its cost overruns as shareholder losses, saying it’s unlikely that the Georgia Public Service Commission will approve adding amounts to the bills of Georgia Power’s 2.6 million customers. When approved in 2012, the third and fourth reactors were estimated to cost $14 billion, with the first electricity being generated in 2016. The municipal utility in Jacksonville, Florida, as well as some other municipal utilities and cooperatives in Florida and Alabama are obligated to buy power from the plant.
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |