Plant Vogtle Co-Owners Settle with Nuclear Project Contractors

 Plant Vogtle Co-Owners Settle with Nuclear Project Contractors

The co-owners of the Plant Vogtle expansion nuclear power project in Georgia completed a settlement process with contractors Westinghouse and CB&I (NYSE: CBI).
 
Plant co-owners Georgia Power, Oglethorpe Power Corp., the Municipal Electric Authority of Georgia and Dalton Utilities agreed to settle all claims currently in litigation against the contractors. The settlement also reaffirms the current in-service dates of the Westinghouse AP1000 reactors under construction, adds additional contractual protections and positions Westinghouse and its affiliates as the primary contractor over the project. The in-service dates are set for June 2019 for Unit 3 and June 2020 for Unit 4.
 
“This settlement is extremely positive for the Vogtle expansion,” said Buzz Miller, executive vice president of nuclear development for Georgia Power. “The project is more than halfway completed based on contractual milestones with all parties focused 100 percent on project execution.”
 
Georgia Power’s portion of the settlement cost is approximately $350 million, significantly less than the claims in litigation. The utility will submit the settlement agreement to the Georgia Public Service Commission in the coming weeks.
 
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