â¿¿ Plant Summer in South Carolina, expected to cost around $10.5 billion, has seen costs jump by $670 million; but with lower interest rates and cheaper-than-expected labor; the owners assert the project is still on or under budget. A deadline to put the first new reactor online has been delayed from 2016 to 2017; the second reactor is now eight months ahead of schedule, targeted for early 2018.Southern Co. and others in the nuclear business say cost overruns are expected in projects this complex, and that they are balanced out by other savings over the life of the plant. Southern Co. expects Plant Vogtle will cost $2 billion less to operate over its 60-year lifetime than initially projected because of anticipated tax breaks and historically low interest rates.
AP IMPACT: Building Costs Rise At US Nuclear Sites
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