New Vogtle Video Offers Bird's-Eye View of Nation's only New Nuclear Units

Staff Report From Georgia CEO

Friday, December 1st, 2017

Georgia Power has released a new aerial video of the nation's only new nuclear units currently under construction – Vogtle Units 3 and 4 near Waynesboro, Georgia. The video provides a bird's-eye view inside the nuclear containment areas of both units, as well as the turbine buildings where electricity will be generated to power approximately 500,000 homes and businesses once the units are completed.

The aerial video illustrates the continued progress made by the 6,000 workers from across the country every day on the construction site. Recent milestones include the placement of the 52-ton CA02 module for Unit 4, a critical component and part of the In-Containment Refueling Water Storage Tank, as well as the installation of the first steam generator, installation of two accumulator tanks for Unit 3 and nearly 2,500 cubic yards of concrete placed inside the containment areas of both units. 

Georgia Power has also updated its popular time lapse video which chronicles years of construction progress in just minutes. In addition to new videos posted regularly on the Georgia Power YouTube Channel, follow the progress from the site with new photos added from the Vogtle nuclear expansion site 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 reviewing the recommendation and is expected to make a decision regarding the future of the Vogtle 3 and 4 project as part of the 17th Vogtle Construction Monitoring (VCM) proceeding. Read the 17th VCM Report here and recent comments from Georgia Power Chairman, President & CEO Paul Bowers to the Georgia PSC 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 multiple scheduled parent guarantee payments from Toshiba. Today, 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, the projected peak rate impact to Georgia Power retail customers is approximately 10 percent, with 5 percent related to the project already in rates – well below original projections of approximately 12 percent.

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.