ATLANTA, July 28, 2017 /PRNewswire/ -- Georgia Power
has finalized a new service agreement with Westinghouse for the
Vogtle nuclear expansion – the first new nuclear units to be built
in the United States in more than
30 years. Previously, Westinghouse, the developer of the AP1000
nuclear technology being used by the new units, served as the
primary contractor with oversight and responsibility for all
construction activities. Under the new service agreement,
approved by the U.S. Department of Energy on July 27, Southern Nuclear (the Southern Company
subsidiary which operates the existing units at Plant Vogtle) will
oversee construction activities at the site.
"We are already in the midst of a seamless transition for the
thousands of workers across the site, allowing us to sustain the
progress we are making every day on both units," said Mark Rauckhorst, executive vice president for
the Vogtle 3 and 4 project. "We remain focused on safety and
quality as we complete this transition."
The scope of the service agreement includes engineering,
procurement and licensing support from Westinghouse, as well as
access to Westinghouse intellectual property needed for the
project. Under the new structure, hundreds of Georgia Power and
Southern Nuclear employees, many who are already aligned with the
project, will assume clearly defined project management roles.
Georgia Power also continues work with the project's Co-owners
(Oglethorpe Power, MEAG Power and Dalton Utilities) to complete a
full-scale schedule and cost-to-complete analysis of the project.
Once complete, Georgia Power will work with the Georgia Public
Service Commission to determine the best path forward for
customers.
Following the Westinghouse bankruptcy filing on March 29, construction momentum has continued
uninterrupted. Over the last 30 days alone, progress includes new
concrete placement within the Unit 3 shield building and nuclear
island, placement of structural steel for the Unit 4 annex building
and the first of four 85,000 pound accumulator tanks for the new
units within the Unit 3 containment vessel. View the latest photos
of progress at the construction site in 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 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, 2016, and subsequent securities
filings, could cause actual results to differ materially from
management expectations as suggested by such forward-looking
information: the results of Westinghouse's bankruptcy filing and
the impact of any inability or other failure of Toshiba to perform
its obligations under its guarantee, including any effect on the
construction of Plant Vogtle Units 3 and 4; 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; current and future litigation, 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 finalized or 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 U.S. Department of
Energy 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