ATLANTA, Oct. 12, 2017 /PRNewswire/ -- Georgia Power
announced today that the second steam generator has been safely
placed for Unit 3 at the Vogtle nuclear expansion near Waynesboro, Georgia. The 1.4 million-pound
steam generator was lifted into the Unit 3 nuclear island on
Tuesday and positioned adjacent to the unit's other steam
generator, which was placed in August. With the completion of this
week's lift, both steam generators are now in place for the new
unit.
Steam generators, measuring nearly 80 feet long, are heat
exchangers used to convert water into steam using the heat produced
in a nuclear reactor core. Each new AP1000 unit at Plant Vogtle
requires two steam generators, all of which are currently onsite.
The steam generators for the new units were fabricated in
South Korea and transported to the
site via the Port of Savannah and
then via rail.
Since Southern Nuclear, the Southern Company subsidiary which
operates the existing units at Plant Vogtle, assumed control of the
site from Westinghouse this summer, momentum has accelerated with a
focus on increased productivity and safe, high-quality
construction. Other major milestones achieved in recent weeks
include a critical concrete 'super placement' for Unit 3 and the
lift of the 237-ton CA03 module for Unit 4. The 71-hour
continuous concrete placement included 1,844 cubic yards of
concrete – enough to create a sidewalk more than six miles
long. The Unit 4 CA03 module is a critical component and part
of 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 provides passive
heatsink within containment and backup cooling for the reactor
vessel.
More than 6,000 workers from across the country are on-site at
Plant Vogtle today working to complete the nation's first new
nuclear units in 30 years. New photos of progress at the
construction site are available each month in the Plant Vogtle 3
& 4 Online Photo Gallery.
Vogtle Project Review Underway
Georgia Power owns 45.7 percent of the new units, with the
project's other Georgia-based
co-owners including Oglethorpe Power, MEAG Power and Dalton
Utilities. On August 31, Georgia
Power filed a recommendation with the Georgia Public Service
Commission (PSC) to continue construction of the Vogtle nuclear
expansion supported by all of the project's other co-owners. The
recommendation was based on the results of a comprehensive
schedule, cost-to-complete and cancellation assessment launched
following the bankruptcy of Westinghouse in March. The Georgia PSC
is expected to review the recommendation and make a decision
regarding the future of the Vogtle 3 and 4 project as part of the
17th Vogtle Construction Monitoring (VCM) proceeding. Read more
here.
From the beginning of the Vogtle expansion, Georgia Power has
worked to minimize the impact of the new units on customer bills.
This effort continues during the Georgia PSC's review of the
recommendation with the company recently announcing a conditional
commitment of approximately $1.67
billion in additional loan guarantees for the project from
the U.S. Department of Energy (DOE), as well as receipt of the
first of multiple scheduled parent guarantee payments from Toshiba.
Today, the total expected rate impact of the project remains less
than the original estimate, after including anticipated customer
benefits from federal production tax credits, interest savings from
loan guarantees from the DOE and the fuel savings of nuclear
energy.
Final approval and issuance of these additional loan guarantees
by the DOE cannot be assured and are subject to the negotiation of
definitive agreements, completion of due diligence by the DOE,
receipt of any necessary regulatory approvals, and satisfaction of
other conditions.
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 and the expected benefit of the DOE loan guarantees.
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 impact of any inability or other failure of
Toshiba to perform its obligations under its guarantee; the impact
of any failure to extend the in-service deadline for federal
production tax credits; 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; 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 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