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Southern Co CEO Thanks Obama Administration For Nuclear Reactor Approval

By Cassandra Sweet Of DOW JONES NEWSWIRES Southern Co.'s (SO) top executive thanked the Obama administration Thursday for licenses it issued for new nuclear reactors, and said the company would incorporate in the plant any safety changes needed following a pending review of Japan's Fukushima nuclear complex. Earlier Thursday, the Nuclear Regulatory Commission approved Southern's application for the first new U.S. nuclear reactors in decades, clearing a regulatory hurdle in the company's quest to lead a wave of reactor construction. Four of the five NRC members said Thursday they favor Southern's proposal to build two new reactors at its existing Plant Vogtle site in Georgia. However, NRC Chairman Gregory Jaczko voted against issuing the license, saying the license should be conditioned on making "safety enhancements" as a result of meltdowns last year at Japan's Fukushima Daiichi nuclear plant. Southern's chairman, president and chief executive promised Thursday that the company has already "taken into account" the events at Fukushima last year and will make any safety changes necessary to existing reactors and the new reactors it plans to build, following completion of a pending analysis of lessons learned from the accident. "This is an important day in America and a wonderful day for Southern Company and Georgia Power," Fanning told reporters Thursday at a briefing in Atlanta. Fanning said that there "really [was] not a difference of opinion with the chairman of the NRC" and suggested that the disagreement was over timing of changes that could be made to the new reactors. "Our commitment, as it always has been, is to incorporate the comments of everyone...to ensure we have the safest, most reliable nuclear generation in the world," Fanning said. "That process with the NRC continues long after the [project] goes into operation. This industry has a track record of continuous learning and we'll continue that posture." Atlanta-based Southern said the project would create 4,000 to 5,000 construction jobs. -By Cassandra Sweet, Dow Jones Newswires; 415-439-6468; cassandra.sweet@dowjones.com

Stock News for Southern (SO)
DateTimeHeadline
05/27/201513:00:00Inventing the future of energy: Southern Company holds annual...
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05/21/201512:00:00Southern Company subsidiary furthers renewable energy leadership...
05/21/201507:03:48Current Report Filing (8-k)
05/20/201515:12:00Hendrickson to lead Georgia Power Corporate Communication
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05/19/201513:02:00Georgia Power launches 2015/2016 ASI Distributed Generation program
05/18/201509:00:00Formal Expression of Interest in Lightbridge Metallic Fuel Submitted...
05/16/201510:07:035 Things Southern Co.'s Management Wants You to Know
05/15/201517:26:00Construction to begin on Georgia Power Georgia 3x30 solar projects
05/15/201516:42:14Current Report Filing (8-k)
05/15/201511:48:08This Dow Average is Already Having Its Correction
05/14/201508:40:00Georgia Power marks signing of groundbreaking solar legislation...
05/13/201516:31:00Third phase of Dalton Solar Plant now online
05/12/201516:41:23Additional Proxy Soliciting Materials (definitive) (defa14a)
05/11/201516:52:29Notice of Exempt Solicitation Pursuant to Rule 14a6(g) (px14a6n)
05/11/201516:45:56Notice of Exempt Solicitation Pursuant to Rule 14a6(g) (px14a6n)
05/11/201513:32:07Correction to Southern Co. Article on April 29
05/11/201512:09:00Upgrades to Plant Farley Unit 1 enhance the production of low-cost...
05/08/201517:08:07Additional Proxy Soliciting Materials (definitive) (defa14a)

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