![]() Our point here is that going into the Plant Vogtle construction process, Southern Company had strong municipal partners, a relatively favorable construction experience, as well as considerable operating expertise in nuclear power. In fact, Georgia Power’s website boasts that the two GE Mark 1 BWRs at Plant Hatch cost $938 million for 1800 MWs. In all fairness, we should point out that both of Southern Company's previous nuclear projects, which were completed in the mid to late 1970s, came in at a cost of well under $1,000 per kw. A similar sharing arrangement exists for the other nuclear stations as well. The remainder is split between three municipal entities: Oglethorpe Power (30%), Municipal Electric Authority of Georgia (17.7%), and Dalton Utilities (2.2%). One major mitigating financial factor is that Georgia Power only owns about 50% of the unit. (A new, large natural gas fired power plant by comparison would cost about $2500 per kw.) No matter what you compare it to this is an extremely expensive power plant. Let’s call it a $36 billion plant costing $15,000 per kw installed. To that figure we have to add the $3.7 billion paid by Westinghouse as a settlement to the co-owners as part of Westinghouse’s bankruptcy. All we know publicly is that the co-owner, Municipal Electric Authority of Georgia (MEAG )complained a year ago about the plant costing in excess of $30 billion. Stated simply the build time was twice what they expected and the final costs look to be triple the initial estimates. ![]() Much has already been written (including by us) about how costly the plant is and how lengthy the construction process. One would’ve thought that being portrayed by Steve McQueen would’ve been enough. His numerous, ultimately successful escape attempts were incorporated into the movie, The Great Escape. Vogtle, apart from his years of executive service to the company, was a POW in the second world war. Together these two Westinghouse-designed AP 1000 reactors (four loop PWRs) will contribute about 2400 MWs to Southern Company's existing nuclear generating fleet which includes Plant Vogtle Units 1&2, Plant Hatch (also in Georgia) as well as Alabama Power’s Farley unit.Īs an aside, we should point out that Southern Company has a tradition of naming these facilities after its CEO’s and Board Chairmen. Its companion, unit 4, presently undergoing hot functional testing, is expected to enter commercial operation either later this year or early next year. All technicalities aside this means the plant is now complete, loaded with fuel, irradiated, and producing electricity for commercial customers. Vogtle nuclear power station, had been synchronized to the grid and was producing electricity for consumers. Last Saturday, April 1, (yes we’re aware of the date) Southern Company’s largest operating subsidiary, Georgia Power, announced that the first of its two nuclear plants under construction, Unit 3 of the new Alvin W.
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