Georgia Power CEO presents recommendation to continue Vogtle 3 & 4 project to Georgia PSC
The owners of the Vogtle 3 & 4 project, Georgia Power, Oglethorpe Power, MEAG Power and Dalton Utilities, presented Monday to the Georgia Public Service Commission (PSC) their unified recommendation to continue construction of the project.
Georgia Power filed with the Georgia PSC the recommendation to move forward on Aug. 31 as part of the 17th Vogtle Construction Monitoring (VCM) Report. All of the owners supported the recommendation, which was based on the results of a comprehensive schedule, cost-to-complete and cancellation assessment launched following the bankruptcy of Westinghouse in March.
“The Owners are unified in our recommendation to move forward with construction and believe we have identified the risks upfront and provided the information necessary to support the recommendation,” Georgia Power Chairperson, President, and CEO Paul Bowers said before the start of scheduled public hearings at the Georgia PSC. “We also understand that this is a complex and difficult decision and it is ultimately the Commission’s decision on whether or not we will move forward with this project.”
In his remarks, Bowers noted that an agreement with the DOE for a conditional commitment of approximately $3.6 billion in additional loan guarantees was announced after Georgia Power filed the recommendation. He also highlighted that the first payment of $300 million from Toshiba was announced on Oct. 2 and another $77.5 million was announced on Nov. 1.
On Oct. 10, Bowers said, workers placed the final steam generator for Unit 3 and, at the end of September completed a 71-hour pour of more than 1,800 cubic yards of concrete in the Unit 3 containment vessel.
The Georgia PSC is anticipated to review the recommendation and make a decision regarding the project’s future as part of the 17th VCM proceeding.
