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.
SOURCE Georgia Power