The board of Oglethorpe Power, co-owner of Units 3 and 4 at the Vogtle nuclear power plant construction project in Georgia, will vote by Sept. 30, on whether to continue with the project following new project cost increases. Following Westinghouse’s March 29, 2017, bankruptcy filing, Vogtle’s co-owners: Georgia Power (45.7% share), Oglethorpe Power (30%), MEAG Power (22.7%) and the city of Dalton, Georgia (1.6%), conducted a cost review prior to their decision to complete the two AP1000 reactors. Based on that analysis, Oglethorpe last summer established its budget for the project at $7 billion, including $490 million in a contingency fund, World Nuclear News (WNN) reported. Since the decision to continue with the project, work at the site has continued under the project management of Southern Nuclear which, like Georgia Power is a subsidiary of Southern Co. Southern Nuclear’s “hands on” experience on the project, together with firmed-up subcontracts, have since led to revised cost estimates, Oglethorpe president and CEO Mike Smith told investors in a conference call on Aug. 16.
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