Two nuclear reactors in Georgia were supposed to herald a nuclear power revival in the United States.
Reactors for Unit 3 and 4 sit at Georgia Power’s Plant Vogtle nuclear power plant on January 20, 2023, in Waynesboro, Georgia, with the cooling towers of older Units 1 and 2 billowing steam in the background. Company officials announced Wednesday, May 24, 2023, that Unit 3 would reach full power in coming days, after years of delays and billions in cost overruns.WAYNESBORO, Gorgia— But the project is seven years late and $17 billion over budget as Georgia Power Co.
Vogtle’s new Unit 3 began generating power in March and is scheduled to reach commercial operation by June. Unit 4 is next door on the same rural Burke County site 40 kilometers southeast of Augusta, along with two older reactors. It’s supposed to be finished by early 2024.GEORGIA Power and its parent, Atlanta-based Southern Co., say the reactors are a triumph. Chris Womack, before he ascended from Georgia Power to become Southern Co.
Japan’s Toshiba Corp., which then owned Westinghouse, paid $3.7 billion to the Vogtle owners to walk away from a guarantee to build the reactors at a fixed price after overruns forced electric industry pioneer Westinghouse into bankruptcy in 2017. Add that to Vogtle’s price and the total nears $35 billion.
Commissioners must then decide how much of Georgia Power’s spending was prudent while disallowing wasted amounts. Commissioners earlier approved $5.7 billion as prudent, but Bryan Jacob of the Southern Alliance for Clean Energy said “management failures” should be scrutinized. Womack said Georgia Power won’t try to collect for all overruns, promising a “balanced” outcome. Southern Co. has written off $3.26 billion in Vogtle losses since 2018, suggesting it won’t recoup those costs.
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