No new cap on costs; Southern Company would have to cover additional cost overruns.
The four owners of the new additions to the Vogtle nuclear power plant in Georgia agreed on Thursday that construction on the two additional reactors can go forward. The agreement was made despite growing opposition among some local lawmakers and at least one community-owned utility.
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This latest agreement sets no additional caps on costs, but Vogtle’s majority owner, Southern Power Company, could be responsible for a larger share of any additional cost overruns, according to the Atlanta Journal-Constitution.
Oglethorpe Power, a 30-percent owner of Vogtle’s reactor additions, was reportedly reluctant to vote in favor of continuing the project without some cap on costs, according to E&E News. Early this year, the bid for the Vogtle expansion was supposed to come to $25 billion, but this summer majority-owner Southern revealed that the project would actually get $2.7 billion over that.
Read more at Vote results: Construction will continue on Vogtle nuclear power plant
