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

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Westinghouse’s bankruptcy will be very costly to the owners of Plant Vogtle — Southern Company (through its subsidiary Georgia Power), Oglethorpe Power Corp., the Municipal Electric Authority of Georgia (MEAG Power), and Dalton Utilities — but Georgia electricity users.

As a result of the Toshiba parent guarantee payments and changes in federal tax law this year, customers will pay $139 million less than expected in 2018 for the Vogtle project with the typical residential customer using 1,000 kilowatt-hours per month.

Chatham County taxpayers have already paid at least $7 million to finance two new nuclear reactors at Plant. Vogtle. The project received $8.3 billion in federal loan guarantees from the U.S..

 · 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.. bankruptcy of Westinghouse, the major construction contractor of the two nuclear reactors of the plant, aggravated costs and led to additional.

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Westinghouse Plant Vogtle bankruptcy will cost Georgia ratepayers and workers. Chatham County taxpayers have already paid at least $7 million to finance two new nuclear reactors at Plant. Vogtle. The project received $8.3 billion in federal loan guarantees from the U.S..

Westinghouse is continuing to operate during its chapter 11 bankruptcy reorganization with $800 million in financing. In a statement on the bankruptcy, Westinghouse said it would continue building the Vogtle and Summer nuclear units "during an initial assessment period," reported to.

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"Significant progress has been made on the construction of Vogtle 3 & 4 since the transition to Southern Nuclear following the Westinghouse bankruptcy. to amend the DOE loan guarantee to allow for.

Westinghouse Plant Vogtle bankruptcy will cost Georgia ratepayers and workers. Chatham County taxpayers have already paid at least $7 million to finance two new nuclear reactors at Plant. Vogtle. The project received $8.3 billion in federal loan guarantees from the U.S..

Westinghouse’s Bankruptcy Could Be the End of Nuclear Hopes in US. President Obama’s administration agreed to an .33 billion federal loan guarantee for the Vogtle project in a huge sign of.

 · The Vogtle plant in Georgia faces similar economic and competitive threats, including the Westinghouse bankruptcy. The plant’s operator, Atlanta-based Southern Co., has said it will decide in coming weeks whether to finish the two reactors, which are years behind schedule and billions of dollars above projected costs.

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