AIKEN -- Southern Company and its subsidiary, Georgia Power, have not yet determined whether they will accept the Obama administration's Feb. 16 offer of $8.33 billion in federal loan guarantees to help finance the addition of two new reactors at Plant Vogtle.
"It's been offered to us, but the devil is in the details," said Southern Nuclear communications coordinator Mike McCracken, who spoke this morning in Aiken to members of Citizens for Nuclear Technology Awareness. "It's still being worked out now."
The U.S. Energy Department's commitment is the first of its kind and also has a 90-day deadline for acceptance, he said. "But there are conditions-strings attached-that still have to be worked out."
Officials at Georgia Power, which owns 45.7 percent stake in Vogtle, have said its borrowings would not exceed $3.4 billion, with the remainder of the loan guarantees available to the other owners of the Burke County plant.
McCracken could not elaborate on the specifics of the negotiations, but mentioned efforts to establish a labor agreement for the $14.5 billion project, which is expected to employ as many as 3,500 workers during peak construction years, with about 800 permanent employees after the new units go online in 2016 and 2017.
The labor discussions are under way between The Shaw Group-the project's construction manager-and the Building and Construction Trades Department, a part of the AFL-CIO.
Construction of the reactor buildings cannot commence until the Nuclear Regulatory Commission issues a combined operating license for the project, which is expected to occur in 2011.
In the meantime, about 700 workers are involved in site preparation work now, with a major milesone on that front having been reached just last week, McCracken said.
The milestone was the completion of the 90-foot hole being dug for unit 3
"Early this week, the first layers of backfill were being put in place," he said.
The hole will be backfilled with sifted, inspected dirt to a depth of about 45 feet, where actual plant construction would occur once the project receives its appropriate licensees.
Reach Rob Pavey at (706) 868-1222, ext. 119, or rob.pavey@augustachronicle.com
Who owns Plant Vogtle?
Here's how it works: Southern Nuclear is the operator of Plant Vogtle, and Georgia Power is one of the co-owners/parent companies. Southern Company is the holding company (and parent company) that owns Georgia Power and Southern Nuclear. The actual ownership of Plant Vogtle is divided among Georgia Power (45.7 percent), Oglethorpe Power Corporation (30 percent), Municipal Electric Authority of Georgia (22.7 percent) and the City of Dalton, Ga., (1.6 percent).
Source: Georgia Power Co.
So is this another case of Ol' Blah Blah helping his union supporters? Yes, the devil is in the details when it comes to any offer from this "administration"...
they arent using Unions there anyway. And if they do go union very few locals will go to work
Aren't the people ogf Georgia already on the hook to finance this project, compliments of the CONS in control? Seems like our rates will go up pretty soon to finance the projected cost, years before actual construction. I gather paulwheeler would rather have a facility built by Minimum wage earners so the CEO's would have plenty of money for bonuses. That is the republican way isn't it?
disssman, there's a HUGE area between union control and minimum wage earners. One is a disease almost impossible to cure (led to government nationalization in the auto industry) and one is bubba-help. There are a lot of crafts in between.
The Augusta Chronicle ©2012. All Rights Reserved.
