ATLANTA, May 10, 2018 /PRNewswire/ -- Georgia Power
announced today the latest milestones at the Vogtle nuclear
expansion near Waynesboro,
Georgia. Over the past week, workers placed the four main
step-up transformers, each weighing 420,000 pounds, inside the Unit
4 transformer bays located near the unit's turbine building. The
transformers will increase the voltage produced by the turbine
generators from 26,000 volts to 500,000 volts before the energy
flows to the state's power grid to serve hundreds of thousands of
customers. Teams also completed a significant concrete placement
inside the Unit 4 containment vessel, clearing the path for
installation of the first floor module for the unit, CA32.
Other recent milestones at the site include the placement of the
second floor module for the Unit 3 operating deck, CA56. This
module is part of the steel floor that sits above the
In-Containment Refueling Water Storage Tank (IRWST). The IRWST is a
75,300-cubic-foot tank that, once the units are operational, is
filled with borated water and is a key safety feature within
containment providing automatic, gravity-fed backup cooling for the
reactor vessel.
With more than 6,000 construction workers onsite today, the
Vogtle nuclear expansion is the largest job-producing project in
the state of Georgia. The
thousands of workers onsite every day continue to focus on safety
and productivity with the target in-service dates for the units
remaining November 2021 (Unit 3) and
November 2022 (Unit 4), according to
the 18th Vogtle Construction Monitoring (VCM)
Report.
Savings & Benefits for Customers
From the beginning of the Vogtle expansion, Georgia Power has
worked with the Georgia Public Service Commission (PSC) to pursue
all available benefits for customers and minimize the impact of the
new units on electric bills. The company's 18th Vogtle Construction
Monitoring Report noted a revised, lower projected rate impact for
customers of 9.8 percent with approximately half of this impact
already in place on bills. This projected rate impact is well below
original projections of approximately 12 percent thanks to new
federal tax laws, anticipated customer benefits from federal
production tax credits, interest savings from loan guarantees from
the U.S. Department of Energy (DOE), and the fuel savings of
nuclear energy.
Additionally, $75 in total 2018
bill credits, or $188 million
overall, were approved by the Georgia PSC as part of its order to
continue construction of Vogtle 3&4 in December 2017. Georgia Power issued the first
$25 credit in April and plans to
issue the second credit in July. The credits are a direct result of
parent guarantee payments for the project from Toshiba available
due to the strength of the original contract for the project and
protections in place for Georgia
electric customers. Click here to read more.
Follow the progress being made at the project with new photos
added to the Plant Vogtle 3 & 4 Online Photo Gallery.
About Georgia Power
Georgia Power is the largest electric subsidiary of Southern
Company (NYSE: SO), America's premier energy company. Value,
Reliability, Customer Service and Stewardship are the cornerstones
of the company's promise to 2.5 million customers in all but four
of Georgia's 159 counties.
Committed to delivering clean, safe, reliable and affordable energy
at rates below the national average, Georgia Power maintains a
diverse, innovative generation mix that includes nuclear, coal and
natural gas, as well as renewables such as solar, hydroelectric and
wind. Georgia Power focuses on delivering world-class service to
its customers every day and the company is consistently recognized
by J.D. Power and Associates as an industry leader in customer
satisfaction. For more information, visit
www.GeorgiaPower.com and connect with the company on Facebook
(Facebook.com/GeorgiaPower), Twitter (Twitter.com/GeorgiaPower) and
Instagram (Instagram.com/ga_power).
Cautionary Note Regarding Forward-Looking
Statements
Certain information contained in this communication is
forward-looking information based on current expectations and plans
that involve risks and uncertainties. Forward-looking information
includes, among other things, statements concerning expected
customer rate impacts, expected cost savings and customer benefits
and other future actions related to Plant Vogtle Units 3 and 4.
Georgia Power cautions that there are certain factors that could
cause actual results to differ materially from the forward-looking
information that has been provided. The reader is cautioned not to
put undue reliance on this forward-looking information, which is
not a guarantee of future performance and is subject to a number of
uncertainties and other factors, many of which are outside the
control of Georgia Power; accordingly, there can be no assurance
that such suggested results will be realized. The following
factors, in addition to those discussed in Georgia Power's Annual Report on Form 10-K for
the year ended December 31, 2017, and
subsequent securities filings, could cause actual results to differ
materially from management expectations as suggested by such
forward-looking information: the impact of any failure to amend the
DOE loan guarantee to allow for additional borrowings; state and
federal rate regulations and the impact of pending and future rate
cases and negotiations; the impact of recent and future federal and
state regulatory changes, as well as changes in application of
existing laws and regulations; the uncertainty surrounding the
federal tax reform legislation, including implementing regulations
and Internal Revenue Service interpretations, actions that may be
taken in response by regulatory authorities, and its impact, if
any, on the credit ratings of Georgia Power; current and
future litigation or regulatory investigations, proceedings, or
inquiries; available sources and costs of fuels; effects of
inflation; the ability to control costs and avoid cost overruns
during the development construction and operation of facilities,
which include the development and construction of generating
facilities with designs that have not been previously constructed;
the ability to construct facilities in accordance with the
requirements of permits and licenses, to satisfy any environmental
performance standards and the requirements of tax credits and other
incentives, and to integrate facilities into the Southern Company
system upon completion of construction; advances in technology;
legal proceedings and regulatory approvals and actions related to
Plant Vogtle Units 3 and 4, including Georgia Public Service
Commission approvals and Nuclear Regulatory Commission actions;
interest rate fluctuations and financial market conditions and the
results of financing efforts; changes in The Southern Company's or
Georgia Power's credit ratings, including impacts on interest
rates, access to capital markets, and collateral requirements; the
impacts of any sovereign financial issues, including impacts on
interest rates, access to capital markets, impacts on foreign
currency exchange rates, counterparty performance, and the economy
in general, as well as potential impacts on the benefits of DOE
loan guarantees; and the effect of accounting pronouncements issued
periodically by standard setting bodies. Georgia Power expressly
disclaims any obligation to update any forward-looking
information.
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SOURCE Georgia Power