Nuclear Power Firms Feel Squeeze
Future nuclear power plant development in the U.S. looks dismal as cost overruns and multiyear delays plague four new reactors under construction in Georgia and South Carolina.
Southern Co. , the Atlanta-based power utility that dominates much of the Southeastern U.S., recently told Georgia regulators that costs have ballooned by $1.4 billion for its minority stake in the Vogtle nuclear power plant expansion in Waynesboro, Ga. The company’s Georgia Power utility is now on the hook to spend $7.5 billion for its 46% share, while municipal utilities own the rest.
