Georgia Power received unanimous approval in December from the Georgia Public Service Commission to complete Vogtle units 3 and 4 near Waynesboro, Georgia - the nation's first new nuclear units in 30 years. Scheduled to come online in 2021 (Unit 3) and 2022 (Unit 4), the units will generate enough emission-free electricity to power approximately 500,000 homes and businesses.
"The decision to complete Vogtle 3 and 4 is important for Georgia's energy future and the United States," said Paul Bowers, Chairman, President and CEO of Georgia Power. "The Georgia Public Service Commission has shown leadership in making this complex and difficult decision and recognized that the Vogtle expansion is key to ensuring that our state has affordable and reliable energy today that will support economic growth now and for generations to come."
Minimizing customer impact
From the beginning of the Vogtle expansion, Georgia Power has worked to pursue all available benefits for customers and minimize the impact of the new units on electric bills. In September, the company announced a new conditional commitment of approximately $1.67 billion in additional loan guarantees for the project from the U.S. Department of Energy (DOE), highlighting renewed federal support for the project. Most recently and years earlier than expected, the company received 100 percent of parent guarantee funds available from Toshiba and will use every dollar to benefit customers.
"Our responsibility is to our customers first and we remain focused on fulfilling our commitment to them to deliver a new energy source that will put downward pressure on rates for 60 to 80 years once the new units are on line," added Bowers.
Why nuclear power?