The Georgia Public Service Commission (PSC) on August 21 in a 5-0 vote approved Georgia Power's spending on Plant Vogtle units 3 and 4 for the period including July 1, 2011 through Dec. 31, 2011. The construction costs of Vogtle units 3 and 4 are monitored by the PSC via monthly filings and construction monitoring reports that are filed every six months.
At the Vogtle site where two 1,100 MW Westinghouse AP1000 reactors are being built, work has been done on turbine islands, cooling towers and nuclear islands. Over the next several months, Georgia Power said, progress will continue to be made in the nuclear island, turbine building and module assemblies.
Major components will begin arriving to the site later this year and early 2013, the first of which will be the reactor vessel for Unit 3. The Unit 3 condensers have arrived from South Korea, where they were manufactured.
The facility provides $2.2 billion more value to customers than the next best available technology, including natural gas generation, according to PSC staff. Georgia Power, the largest subsidiary of Southern Co. (NYSE: SO), said it is in position to provide customers with up to $2 billion in potential benefits in the form of savings related to recovering financing costs during construction, Department of Energy loan guarantee, production tax credits, lower-than-forecast interest rates and lower-than-forecast commodity costs.
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