The Southern company's stock price has been on a steep decline this week. The minority owners are trying to bail. One bails and the project is over. Friday the stock declined 3.12% on really heavy volume. Looks like lots are fearful news might come out before the market opens.
***When this project collapses, I believe the ratepayers will be paying the full bill on the plant for the next forty years. That is why everyone is so desperate to get this thing completed. The feds loaned the Southern company about 11 billion dollars for this project. So if the project fails, you will get no electricity from the plants and still pay what they spent on construction.
But the southern company might regret getting federal loan guarantees. I think in hindsight there is going to be significate corruption and coverups going on. There will be federal felony charges over this. I wonder if the rate payers will be off the hook with all the loans and cost of the failed construction project if systemic fraud, coverup and corruption are involved with the project.
But I would never under estimated the political connections and fraud of the Southern company.
Remember the Southern's stock price is down 10% since the recent PSC decision to continue the project...
In light of the blue wave overtaking the house and senate in a few months, both plants would never had a chance but for the corrupt and lying southern republican extremist ideology overtaking the region. You know, the house and senate going to the democrats and the also the Georgia governorship. We need a gigantic investigation over Vogtle and Summer. A kind of political debridement to clean out the corruption debris throughout the south. I call our southern states as our US breakaway territories for their hatred of the US government and our federal regulatory system...ie, clear laws, codes and standards.
Hmmm, I wonder if the weak kneed Dems will have senate and house hearing over the Summer and Vogtle projects. The Dems need to cleans our this this terrible wound with hearing. The Dems are even more indebted to the big nuclear utilities than the republicans.
My plan to finish this project is for the Southern company and the Summer plant to eat the total cost of the plants. Make them pay the price and put executives in jail for all this corruption and lying. For the good of the nation, have the utilities turn over the plants to the feds at no cost. Then have the feds finish the construction project. Make a TVA like agency for the four plants. Can you even imagine how cheap this electricity would be to the consumers and business? Maybe after a decade, then sell the plants to the private market.
Fate of Vogtle Nuclear Expansion Hinges on Minority Owners
08/22/2018 | Aaron Larson