The only nuclear power project in the U.S. ponders its fate
- Ben Geman, author of Axios Generate
Vogtle, Georgia's two-unit nuclear power plant. Photo: Pallava Bagla/Corbis via Getty Images
Owners of a troubled, over-budget nuclear power project in Georgia will decide today whether to cancel the ongoing construction of two new reactors.
Why it matters: The expansion of Southern Company's Vogtle site is the only nuclear power project underway in the country. Its demise would be a major blow to the industry that has seen hopes for a U.S. renaissance fade.
Where it stands: Southern subsidiary Georgia Power, which has the largest stake in what has ballooned into a $27 billion project, has signaled that it supports pressing ahead.
- But the two other major stakeholders — Municipal Electric Authority of Georgia and Oglethorpe Power Corp. — must also sign off on moving forward.
The intrigue: The project is supported by federal loan guarantees agreed to under the Obama administration, and the Trump administration supports completion of the reactors.
- "It’s important that the U.S. maintain its leadership in nuclear technology, nuclear expertise," a senior DOE official told reporters on a call Sunday evening.
- On Friday, the Energy Department sent letters to the owners warning that if it's canceled, the department is "prepared to move swiftly to fully enforce its rights" to repayment. Thus far, $5.6 billion of the $8.3 billion loan guarantee has been disbursed.
Go deeper: The Associated Press has more on the DOE letters to the project owners here.