ATLANTA, March 7, 2018 /PRNewswire/ -- Georgia Power
announced today the latest construction milestone at the Vogtle
nuclear expansion near Waynesboro,
Georgia – a 13-plus hour continuous concrete placement for
the Unit 4 "turbine tabletop." The turbine tabletop is 10 feet
thick and comprised of approximately 2,400 cubic yards, or 250
individual concrete trucks, of self-consolidating concrete.
The tabletop serves as a pedestal for the Unit 4 generator and
turbines and is designed to support the weight of the heavy
components. With this milestone, more than 550,000 total cubic
yards of concrete have been placed at the construction site to
date.
Georgia Power recently filed the 18th Vogtle
Construction Monitoring (VCM) Report with the Georgia Public
Service Commission (PSC) highlighting additional progress at the
site through the end of 2017. Recent major progress includes 1,300
cubic yards of concrete placed inside the Unit 4 containment vessel
in a continuous, 21-hour placement in December 2017. Additionally, in November 2017, the last of the "Big 6" modules
for the project was placed – the Unit 4 CA02 module, which will
make up the in-containment refueling water storage tank.
This continued progress has been achieved with Southern Nuclear,
the nuclear operating subsidiary which operates the existing Vogtle
units, as the project manager at the site with global construction
firm Bechtel managing daily construction efforts. Southern Nuclear
assumed overall project management in 2017 following the bankruptcy
of former primary Vogtle contractor Westinghouse. According to the
18th VCM Report, productivity has improved at the site
and direct construction work is currently tracking ahead of the
plan to achieve the target in-service dates of November 2021 (Unit 3) and November 2022 (Unit 4).
To follow the progress, visit the Georgia Power YouTube
Channel and view new photos added each month in the Plant
Vogtle 3 & 4 Online Photo Gallery.
Savings & Benefits for Customers
From the
beginning of the Vogtle expansion, Georgia Power has worked with
the Georgia PSC to pursue all available benefits for customers and
minimize the impact of the new units on electric bills. The
18th VCM Report also noted a revised, lower projected
rate impact for customers of 9.8 percent with more than 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 (PTCs), interest savings from loan
guarantees from the U.S. Department of Energy (DOE), and the fuel
savings of nuclear energy.
In January, Georgia Power announced that customers would pay
$139 million less than expected in
2018 for the Vogtle nuclear expansion due to changes in federal tax
laws and full receipt of the Toshiba parent guarantee payments.
Beginning in April, the typical residential customer using 1,000
kilowatt-hours per month will pay $2.70 less than expected per month in financing
costs for the Vogtle project. Additionally, Georgia Power bill
credits totaling $188 million were
approved by the Georgia PSC as part of its order to continue
construction of Vogtle 3 & 4 as a direct result of the Toshiba
parent guarantee payments. The credits, amounting to $75 per individual customer, will be distributed
across three separate Georgia Power bills in 2018, with the first
$25 credit appearing in the coming
months.
Click here to read more about the latest savings and benefits
announced for Georgia Power customers.
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 the expected in-service dates for Plant
Vogtle Units 3 and 4, 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 recently
enacted 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 NRC 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