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JEA wants out of struggling nuclear power deal, disputes negative credit report via The Augusta Chronicle

Jacksonville Electric Authority executives said Tuesday they disagreed with the finding by a Wall Street credit-rating agency that the utility’s financial obligations to a struggling nuclear power project in Georgia — which could top $1.7 billion — have dimmed its future.

But JEA officials also have told analysts they no longer want the nuclear power they are obligated to one day buy and that it wants Georgia power regulators to cancel the long-delayed and increasingly expensive Plant Vogtle nuclear expansion project.

JEA officials have not publicly discussed their desire to cancel the Vogtle project. Jacksonville Electric is not a co-owner of Vogtle or the current new nuclear reactor projects.

Late last week, credit-rating firm Moody’s said it has moved JEA’s financial outlook from “stable” to “negative,” citing major concerns with JEA’s financial ties to Plant Vogtle. […]


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