Toshiba Submits Full Payment Guarantee for Vogtle

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By Editors of Power Engineering

Georgia Power announced it and the other Vogtle co-owners, Oglethorpe Power, MEAG Power and Dalton Utilities, have now received $3.68 billion in parent guarantee payments from Toshiba, the full amount owed by the parent company of former primary Vogtle contractor Westinghouse.

Toshiba originally agreed to make monthly payments through January 2021 but, under a new agreement reached earlier this month, delivered all remaining installments in a single payment of $3.225 billion on December 14. Georgia Power's proportionate share of the payment is $1.47 billion.

Additionally, the company is pursuing additional loan guarantees from the Department of Energy of up to $1.67 billion.

Currently, the project, which could cost up to $25 billion, awaits a decision from the Georgia Public Service Commission on whether Georgia Power can charge ratepayers for its work on the two-unit expansion.

Georgia Power has said the project could be finished by 2022.

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