Plant Vogtle nuclear expansion spending down in first half of 2015

Plant Vogtle construction costs down in first half 2015

Georgia Power said in a report that the utility estimates it will spend less on Plant Vogtle nuclear construction costs in the first half of 2015 compared to the last half of 2014.

In it’s 13th semi-annual construction update since the project was approved in 2009, the Southern Co. (NYSE: SO) unit said it has spent $148 million during the first six months of the year, according to the Atlanta Business Chronicle. Earlier in August, the PSC approved $169 million in construction costs for the period from July 1, 2014 to December 31, 2014. Georgia Power officials notified the state Public Service Commission that the completion date would be pushed back 39 months to June 2019 for the first reactor, with the second to follow the following year.

Georgia Power blamed the delays on construction contractor Westinghouse and partner CB&I (NYSE: CBI), saying design errors required a review by federal regulators. Lawsuits between the contractors and Georgia Power may also increase the price tag when it is completed. Analysts have said completing the project would still come out cheaper than stopping and building another power plant, such as natural gas.

Subscribe to Nuclear Power International magazine

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...