Southern Co. expects the firms building its new nuclear plant in Georgia will pay $240 million in damages if the construction schedule slips another year-and-a-half, power company CEO Thomas Fanning said Wednesday.
Those payments from Westinghouse Electric Co. and Chicago Bridge & Iron Co. would offset roughly a third of the costs Southern Co. could face if its two new reactors at Plant Vogtle were delayed an additional 18 months. Southern Co. subsidiary Georgia Power disclosed the potential delay last week and estimated it could cause another $720 million in financing and ownership costs.
