Major components will begin arriving at the site later this year and early 2013, the first of which will be the reactor vessel for Unit 3. The Unit 3 condensers have arrived from South Korea, where they were manufactured. Unit 3 is scheduled to go online in 2016, and Unit 4 will follow in 2017.
Once complete, the new units will produce enough electricity to power 500,000 Georgia homes and businesses.
The facility provides at least $2.2 billion more value to customers than the next best available technology, including natural gas generation, according to PSC staff. Georgia Power is in position to provide customers with up to $2 billion in potential benefits in the form of savings related to recovering financing costs during construction, DOE loan guarantee, production tax credits, lower-than-forecast interest rates and lower-than-forecast commodity costs.
Southern Nuclear, a subsidiary of Southern Company, is overseeing construction and will operate the two new 1,100-megawatt AP1000 units for Georgia Power and co-owners Oglethorpe Power Corporation, the Municipal Electric Authority of Georgia and Dalton Utilities. Georgia Power owns 45.7 percent of the new units, with a certified cost of $6.1 billion.Georgia Power is the largest subsidiary of Southern Company, one of the nation's largest generators of electricity. The company is an investor-owned, tax-paying utility with rates below the national average. Georgia Power serves 2.4 million customers in all but four of Georgia's 159 counties. www.georgiapower.com SOURCE Georgia Power Co.