April 24, 2018 - 3:12 PM EDT
Print Email Article Font Down Font Up Charts

New milestones reached for Vogtle Unit 3

Savings and benefits continue for customers First of three $25 bill credits appear this month

ATLANTA, April 24, 2018 /PRNewswire/ -- Georgia Power announced today multiple recent milestones for Unit 3 at the Vogtle nuclear expansion project near Waynesboro, Georgia.

The CA55 module is placed for Georgia Power's Vogtle Unit 3.

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.

 

Georgia Power logo. (PRNewsFoto/Georgia Power)

Cision View original content with multimedia:http://www.prnewswire.com/news-releases/new-milestones-reached-for-vogtle-unit-3-300635728.html

SOURCE Georgia Power


Source: PR Newswire (April 24, 2018 - 3:12 PM EDT)

News by QuoteMedia
www.quotemedia.com

Legal Notice