Georgia Power will continue construction work at the nuclear plant

17/05/2017 13:02 Nuclear

news

Southern Nuclear and Georgia Power will take in charge the construction management of the Vogtle nuclear plant from bankrupt developer Westinghouse, according to a new service accord.

The deal prolongs an interim agreement until the 3rd of June while the firms obtain approvals to handover project management.

 

Westinghouse Electric, the US division of Toshiba, was the contractor and designer of the project and it was declared bankrupt this March.

 

Georgia Power mentioned that it will do everything in its competence to make Westinghouse and Toshiba responsible for their financial obligations.

 

Georgia Power made the announcement an hour before the agreement was due for expiration. The deal was extended on April 28. At present, the company has a 46% stake in the project.

 

Georgia Power says to have made an investment of billions of dollars, while thousands of jobs are at stake and project is three years late and $3 billion over its initial budget. The final cost of the project continues to be unknown and the final figure might be announced by the end of this summer.

 

Co-owners including Oglethorpe Power, MEAG Power and Dalton Utilities and the Georgia Public Service Commission will continue to work with the project in order to complete it.

Daily (16.11.2017): British wholesale gas prices dropped due to an oversupplied market

16/11/2017 10:52:00

Oil prices fell for the fourth consecutive session on Wednesday after the U.S. government announced an unpredicted increase in crude and gasoline stockpiles.

<READ MORE

(15.11.2017): Weekly Energy Market Review at a Glance

16/11/2017 09:18:00

Here's a quick snapshot of the main energy indicators in the last 7 days.

READ MORE

Romanian group OMV Petrom declares Brazi power plant is now 100% functional

15/11/2017 13:38:00

Romanian group OMV Petrom declares Brazi power plant is now 100% functional

READ MORE