Vogtle Death Spiral

Georgia regulatory staff calls the last U.S. nuclear construction project “uneconomic”

By Steven Mufson December 5 at 2:41 PM

Southern Company said Tuesday it had reached an agreement with Toshiba to speed up a $3.2 billion payment to help salvage two nuclear reactors under construction in Georgia.

Under the agreement, Toshiba will make the payments by December 15 on behalf of its nuclear construction subsidiary Westinghouse, which is in bankruptcy.

The agreement was disclosed four days after three staff members of the Georgia Public Service Commission said that the project at the Vogtle power station “is no longer economic” given huge cost overruns, construction delays and the burden that would be thrust upon ratepayers while the company profits. The PSC commissioners will decide in February whether to let the project go forward.