Georgia Power Hit with Financial Penalties for Construction Delays at Vogtle Nuclear Plants

SUGAR LAND--January 5, 2017--Written by John Egan for Industrial Info Resources (Sugar Land, Texas)--Construction on two new units at the Alvin W. Vogtle Nuclear Power Station is about 60% complete, and the operator and principal owner, Georgia Power Company (Atlanta, Georgia), a unit of the Southern Company (NYSE:SO) (Atlanta), has agreed to forego several hundred million dollars in scheduled customer price increases over 2017-2020 because of construction delays, according to a settlement unanimously approved by the Georgia Public Service Commission (GPSC) (Atlanta) on December 20. Within this article: Details on and reactions to the decision, and its potential effects on nuclear and other energy sources in the region. Other companies featured: Chicago Bridge & Iron Company NV (NYSE:CBI), Fluor Corporation (NYSE:FLR)