Feds Finalize $8.3 Billion in Taxpayer-Backed Loan Guarantees for Over Budget, Significantly Delayed Vogtle Nuclear Reactors as Alleged “Benefits” to Georgia Power’s Customers Have Eroded, Experts Say | SACE | Southern Alliance for Clean Energy

Atlanta, Ga. (June 24, 2015) ///PRESS RELEASE/// On the heels of Tuesday’s all-day public hearing on the 12^th semi-annual Vogtle Construction Monitoring (VCM) report (Docket 29849) at the Georgia Public Service Commission (PSC), which underscored more schedule delays and at least $1.4 billion in cost increases just for Georgia Power’s share of the two Toshiba-Westinghouse AP1000 nuclear reactors under construction at Plant Vogtle near Waynesboro along the Savannah River, the Department of Energy (DOE) issued the remaining $1.8 billion in federal loan guarantees to MEAG, a utility partner in the project. Despite testimony from the PSC Public Interest Advocacy (PIA) staff expert witnesses that identified at least an additional 3-month delay, constituting a 3 1/2 year overall project delay, and stressed that significant obstacles remain that could further derail the schedule, the DOE finalized the remaining portion of the $8.3 billion loan guarantee.

more: Feds Finalize $8.3 Billion in Taxpayer-Backed Loan Guarantees for Over Budget, Significantly Delayed Vogtle Nuclear Reactors as Alleged “Benefits” to Georgia Power’s Customers Have Eroded, Experts Say | SACE | Southern Alliance for Clean Energy