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 (19.05.2017): EU carbon prices surged over 4% to a monthly high

19/05/2017 10:22:00

Oil prices continued to grow on Thursday, as most of the major producing countries suggested they would extend supply cuts to reduce an ongoing global crude glut.

<READ MORE

Switzerland to decide on nuclear power phaseout in favor of renewables

18/05/2017 16:00:00

This Sunday, Switzerland will go to the polls and decide upon the government’s plan to abandon further development of nuclear power in favor of renewable energy. The focus of the campaign are the costs of the change. The current referendum follows October’s signature campaign organized by the Swiss People’s Party (SVP) who gave the support to contest the Government’s controversial energy plan in a popular vote.

READ MORE

Armenia: Hydropower plants can reach a 40% share of electricity generated

18/05/2017 14:21:00

Armenia’s hydropower plants can produce a share of 40% of the total electricity volume, according to a recent statement of the Armenian deputy minister of energy infrastructure and natural resources Hayk Harutyunyan.

READ MORE