ATLANTA, April 18, 2016 /PRNewswire/ -- Georgia Power
today announced the latest milestone in the construction of the
expansion of Plant Vogtle near Waynesboro, Georgia – the delivery of the
first reactor coolant pump for the project. Arriving via truck from
Curtiss-Wright Corporation in Cheswick,
Pennsylvania, the reactor coolant pump is also the first to
be delivered to any U.S. AP1000 construction project. The pump
weighs 187.5 tons, or 375,000 pounds, and is a critical component
of the AP1000 design as it circulates hot primary-circuit water
within the reactor. There are four reactor coolant pumps
needed for each unit.
Other recent progress at the Vogtle site includes the safe
placement of six new shield building panels for Unit 3, bringing
the total number of panels installed to date to 20. The shield
building, which encapsulates the Unit 3 containment vessel, is
comprised of more than 160 individual steel panels. The reinforced
individual panels can weigh 10 tons or more and be filled with
concrete. Once fully assembled, the shield building will provide
structural support of the containment cooling water supply and
protect the containment vessel, which houses the reactor vessel and
associated equipment.
The Vogtle project is the state's largest job-producing
construction project with more than 5,000 construction workers
onsite and 800 permanent jobs once the new units begin operation.
Once all four units are online, Plant Vogtle is expected to
generate more electricity than any other U.S. nuclear facility,
enough to power more than one million homes and businesses.
The projected overall peak rate impact of the Vogtle nuclear
expansion continues to be significantly less than when the project
was originally certified due to lower financing rates, other
benefits the company has proactively pursued and the fuel savings
of nuclear. The company projects that, even with the new
costs and schedule forecast, the peak rate impact will be
approximately 6 to 7 percent – which is nearly half of the original
rate impact forecast. Of this, approximately 4.5 percent is already
in rates. Once the new units come online, they are expected to put
downward pressure on rates and deliver long-term savings for
Georgia customers.
About Georgia Power
Georgia Power is the largest
subsidiary of Southern Company (NYSE: SO), one of the nation's
largest generators of electricity. Value, Reliability,
Customer Service and Stewardship are the cornerstones of the
company's promise to 2.5 million customers in all but four of
Georgia's 159 counties. Committed
to delivering clean, safe, reliable and affordable energy at rates
below the national average, Georgia Power maintains a diverse,
innovative generation mix that includes nuclear, 21st century coal
and natural gas, as well as renewables such as solar, hydroelectric
and wind. Georgia Power focuses on delivering
world-class service to its customers every day and the company is
consistently recognized by J.D. Power and Associates as an industry
leader in customer satisfaction. For more information, visit
www.GeorgiaPower.com and connect with the company on Facebook
(Facebook.com/GeorgiaPower) and Twitter
(Twitter.com/GeorgiaPower).
Cautionary Note Regarding Forward-Looking
Statements
Certain information contained in this
release is forward-looking information based on current
expectations and plans that involve risks and uncertainties.
Forward-looking information includes, among other things,
statements concerning the expected impact on customer rates.
Georgia Power cautions that there are certain factors that could
cause actual results to differ materially from the forward-looking
information that has been provided. The reader is cautioned not to
put undue reliance on this forward-looking information, which is
not a guarantee of future performance and is subject to a number of
uncertainties and other factors, many of which are outside the
control of Georgia Power; accordingly, there can be no assurance
that such suggested results will be realized. The following
factors, in addition to those discussed
in Georgia Power's Annual Report on Form 10-K for the
fiscal year ended December 31, 2015, and subsequent securities
filings, could cause actual results to differ materially from
management expectations as suggested by such forward-looking
information: the impact of recent and future federal and state
regulatory changes, as well as changes in application of existing
laws and regulations; current and future litigation, regulatory
investigations, proceedings, or inquiries; available sources and
costs of fuels; the ability to control costs and avoid cost
overruns during the development and construction of facilities,
which includes the development and construction of generating
facilities with designs that have not been finalized or previously
constructed; state and federal rate regulations and the impact of
pending and future rate cases and negotiations, including rate
actions relating to fuel and other cost recovery mechanisms; the
ability to construct facilities in accordance with the requirements
of permits and licenses, to satisfy any environmental performance
standards and the requirements of tax credits and other incentives,
and to integrate facilities into the Southern Company system upon
completion of construction; advances in technology; legal
proceedings and regulatory approvals and actions related to Plant
Vogtle Units 3 and 4, including Georgia Public Service Commission
approvals and Nuclear Regulatory Commission actions and related
legal proceedings involving the commercial parties; and the ability
of counterparties of Georgia Power to make payments as and when due
and to perform as required. Georgia Power expressly disclaims any
obligation to update any forward-looking information.
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SOURCE Georgia Power