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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
05/05/201612:00:18Statement of Changes in Beneficial Ownership (4)
05/05/201611:00:00PowerSecure Stockholders Vote to Approve Merger with Southern...
05/03/201616:30:00Southern Company, AGL Resources receive merger approval from...
05/03/201616:24:00Energy efficiency a focus at Atlanta's The Office
05/03/201608:57:06Statement of Changes in Beneficial Ownership (4)
05/02/201613:59:32Statement of Changes in Beneficial Ownership (4)
05/02/201613:57:08Statement of Changes in Beneficial Ownership (4)
05/02/201613:38:27Statement of Changes in Beneficial Ownership (4)
04/27/201611:17:00Correction to Southern Co. Profit Falls 5.5%
04/27/201611:04:00Southern Co. Profit Falls 5.5%
04/27/201611:00:00Mississippi Power, Silicon Ranch break ground on new solar energy...
04/27/201608:30:43Current Report Filing (8-k)
04/27/201607:30:00Southern Company reports first-quarter earnings
04/26/201616:20:47Current Report Filing (8-k)
04/25/201612:36:00Georgia Power releases 2015 Citizenship Report
04/22/201610:53:00Southern Nuclear hosts renowned safety presenter for high school...
04/21/201613:00:00DiversityInc names Southern Company a top U.S. diverse corporation
04/20/201614:15:00Georgia Power plans to reduce residential customer bills by nearly...
04/20/201608:40:00Georgia Power team to host 19th annual Run for the Reason
04/19/201615:05:00Georgia Power joins with partners, elected officials to recognize...

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