Georgia Power, Toshiba and Westinghouse finalize agreements for Vogtle nuclear expansion

Published on June 13, 2017 by Daily Energy Insider Reports

Georgia Power, the largest electric subsidiary of Southern Company, entered into several new agreements with Toshiba, the parent company of Vogtle nuclear expansion contractor Westinghouse.

Georgia Power and Westinghouse confirmed a new service agreement allowing the transition of project management for the Vogtle nuclear expansion from Westinghouse to Southern Nuclear and Georgia Power. The agreement must still be approved by the Westinghouse Board of Directors and is subject to certain other conditions, including bankruptcy court approval. Georgia Power, Oglethorpe Power, MEAG Power and Dalton Utilities co-own the project.

“We are pleased with today’s positive developments with Toshiba and Westinghouse that allow momentum to continue at the site while we transition project management from Westinghouse to Southern Nuclear and Georgia Power,” Paul Bowers, chairman, president and CEO of Georgia Power, said. “We are continuing to work with the project’s Co-owners to complete our full-scale schedule and cost-to-complete analysis and will work with the Georgia Public Service Commission to determine the best path forward for our customers.”

The interim assessment agreement that enabled progress to continue on the construction site was extended through June 22.

Another agreement affirms the value of Toshiba’s guarantee at $3.68 billion in order to provide protections for Georgia electric customers following Westinghouse’s March bankruptcy. The U.S. Department of Energy (DOE) approved the agreement.