14th VCM Report Highlights Vogtle Progress through End of 2015

Staff Report From Georgia CEO

Monday, February 29th, 2016

Georgia Power today filed its 14th Vogtle Construction Monitoring Report with the Georgia Public Service Commission. The report highlights progress made at the site through the end of 2015, including $160 million invested by Georgia Power in the second half of 2015. The Georgia PSC has unanimously approved all costs submitted through the VCM process to date.

The Vogtle expansion is the largest construction project in Georgia with more than 5,000 workers onsite today and 800 permanent future jobs. When the new units join the existing two units already in operation, Plant Vogtle is expected to generate more electricity than any other U.S. nuclear facility, enough to power more than one million homes and businesses.

Recent progress at the expansion highlighted in today's report includes:

  • The installation of the first shield building panels for Unit 3, placement of 2,400 cubic yards of concrete for the "turbine tabletop" for Unit 3 and the placement of the 950-ton containment vessel lower ring for Unit 4.

  • Delivery of major equipment and components to the site from throughout the United States and around the world including two steam generators from South Korea and the Unit 4 Core Makeup Tank from Italy.

  • Positive inspection results from the Nuclear Regulatory Commission demonstrating that the units are being completed safely and in compliance with regulations, as well as approval of various License Amendment Requests needed to support construction.

  • Continued activities to integrate the new units with the existing plant and prepare new employees to bring the units online to serve customers.

The projected overall peak rate impact of the Vogtle nuclear expansion continues to be significantly less than when the project was originally certified due to lower financing rates and other benefits the company has proactively pursued, and the fuel savings of nuclear. The project's remaining projected customer rate impact is still approximately 2.5 percent, an average of less than 1 percent per year through the expected completion dates of June 2019 for Unit 3 and June 2020 for Unit 4. Once the new units come online, they are expected to put downward pressure on rates and deliver long-term savings for Georgia customers.

Expanding Plant Vogtle is part of Georgia Power's long-term, strategic plan for providing safe, clean, reliable and affordable energy to meet the growing energy needs of Georgia. Nuclear power is an essential component of the company's diverse generation mix that also includes 21st century coal and natural gas, as well as renewables such as solar and wind.