Westinghouse bankruptcy puts $8.3B in federal loan guarantees for Vogtle plant at risk

Georgia Power customers to pay $139 million less for Vogtle expansion in 2018 – Today, after including these savings, anticipated customer benefits from federal production tax credits, interest savings from loan guarantees from. continued uninterrupted at the Vogtle site.

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The Southern Company SO recently received additional federal loan guarantee of $3.7 billion for Vogtle Project, emphasizing the government’s faith in the future of nuclear energy in the nation.

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Kempner: Radioactive question looms over Georgia’s nuclear mess at Vogtle – Georgia’s nuclear mess is about to get way messier now that the chief contractor on the Plant Vogtle. the PSC to put more on ratepayers. He mentioned potential additional help from the feds, who.

Japanese conglomerate Toshiba Corp is considering putting its Westinghouse Electric Co unit into U.S. Chapter 11 bankruptcy as soon as Tuesday due to runaway costs at two U.S. nuclear power plant.

Energy secretary rick perry on March 22 said his department will guarantee up to $3.7 billion in additional loans to finance continued construction of two new nuclear reactors at the Vogtle plant.

“Vogtle is a cost-of-service plant, so it is a low risk for the federal. the bankruptcy of Westinghouse, which was building the two AP1000 reactors for the plant. georgia power agreed to take over.

"It’s a go" at Plant Vogtle, despite $12 billion in federal taxpayer-backed nuclear loan guarantees at risk of default As Southern Alliance for Clean Energy (SACE) has reported , the Georgia Public Service Commission has voted unanimously to proceed with the Vogtle 3 and 4 new reactor construction project in Waynesboro, GA, on the banks of the.

Under the 30-day interim agreement, Georgia Power is paying Westinghouse $5.4 million a week to keep work going at the Vogtle site while it evaluates whether to continue construction or shut the.

But Toshiba will still be responsible for guaranteeing roughly ¥650 billion (US$5.9bn) worth of Westinghouse debt if the nuclear projects are delayed due to the bankruptcy filing, and Toshiba also needs to set aside about ¥170 billion (US$1.54bn) in loan-loss provisions in case loans to Westinghouse prove unrecoverable. 15

Georgia Power has wrestled with delays and increasing costs at the Plant Vogtle nuclear expansion. Now it faces new complications with the bankruptcy filing by leading contractor Westinghouse.

Federal regulators may weigh in on a power purchase agreement between Georgia and Florida utilities for electricity from these unfinished reactors at Plant Vogtle in Georgia. bonds and Department.