Southern Company wants even more special loan guarantee terms for its new Plant Vogtle nukes. When that or CWIP gets revoked, maybe Southern Company will see that solar is a lot less trouble, and more profitable.
The license authorized by the NRC 9 February 2012 for the new Plant Vogtle nukes is the first one in thirty years. Harvey Wasserman wrote for CounterPunch 18 April 2012, The Big Liability,
It’s about a proposed $8.33 billion nuke power loan guarantee package for two reactors being built at Georgia’s Vogtle. Obama anointed it last year for the Southern Company, parent to Georgia Power. Two other reactors sporadically operate there. Southern just ravaged the new construction side of the site, stripping virtually all vegetation.
It’s also stripped Georgia ratepayers of ever-more millions of dollars, soon to become billions. This project is in the Peach State for its law forcing the public to pay for reactor construction in advance.
Look on your Georgia Power bill for Nuclear Construction Cost Recovery Rider, aka Construction Work in Progress (CWIP). It’s probably about 3% of your bill, for power you may never receive.
If you get your electricity from an EMC instead, remember Georgia’s Electric Member Corporations already participate in the existing Plant Vogtle nukes, so you’ll be on the hook one way or another for the new nukes.
When the project fails, or the reactors melt, the public still must pay.
And even before then, Georgia Power customers get to pay for cost overruns. Not to worry; last time nukes were built at Plant Vogtle, they only ran over budget by a factor of seven.
Southern Company’s existing Plant Vogtle reactors had an unexpected shutdown last year days after NRC said they were fine. And Southern Company says