ATLANTA, April 24, 2018 /PRNewswire/ -- Georgia Power
announced today multiple recent milestones for Unit 3 at the Vogtle
nuclear expansion project near Waynesboro, Georgia.
On Sunday, workers placed the passive residual heat removal
(PRHR) heat exchanger inside the Unit 3 containment vessel. The
PRHR heat exchanger is a key feature of the AP1000 reactor's
passive core cooling system which is part of the larger AP1000
passive safety system. Earlier in the week, workers at the site
also placed the CA55 module, weighing approximately 170,000 pounds.
The CA55 module is the first roof module for the in-containment
refueling water storage tank, and will be where the integrated head
package is placed during a refueling outage once the unit begins
operating.
Georgia Power has also released the latest Vogtle Timeline video
highlighting safety, progress and efficiency at the Vogtle site for
the first quarter of 2018. More than 6,000 workers are currently
onsite, focused on increased productivity and safe, high-quality
construction.
Available on Georgia Power's YouTube Channel, the new Vogtle
Timeline video includes:
- Significant progress and construction milestones reached
since January including the placement of the 306-ton Unit 4 reactor
vessel.
- Lower costs for the project and benefits for Georgia Power
customers due to changes in federal tax laws and full receipt
of the Toshiba parent guarantee payments.
- A continued commitment to the community by workers at
Plant Vogtle including volunteer events for the MLK Day of Service
in February and a special partnership with the United Way.
- A behind-the-scenes look at the Vogtle Emergency Response
Team, a 70-member team trained as first responders for
workplace emergencies and injuries to site personnel.
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, the first of three $25 credits for the Vogtle nuclear expansion were
applied to Georgia Power customers' bills this month. $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. 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 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