Major Cost Overruns at Vogtle Nuclear Reactor

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Southern Company acknowledged nearly $1 billion in cost overruns for the Vogtle nuclear reactor expansion project in an SEC filing. Nine environmental and advocacy groups, including the Southern Alliance for Clean Energy, held a February 2012 news conference warning that Southern Company was concealing details of construction change orders that would add major delays and costs to the project. The groups announced plans to file a brief with the U.S. Court of Appeals for the D.C. Circuit.

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MAJOR COST OVERRUNS AT VOGTLE NUCLEAR REACTOR

Even though the Vogtle reactor project got its federal license just three months ago, the nuclear reactors faces a cost overrun of nearly $1 billion in 2011 dollars, according to groups that warned in February that the Vogtle expansion effort is a boondoggle that could hurt ratepayers.

Southern Co. publicly acknowledged its share of the cost overrun in a filing this week with the U.S. Securities and Exchange Commission (SEC). This follows recent reports about grading issues under the reactor's foundation, improperly installed rebar that has slowed the project, and amendments requested to the federal license for the two new Vogtle reactors.

Southern Co.'s SEC filing warns that more cost overruns could be in the works. In its SEC filing, Southern Co. notes on page 139: "Additional claims by the Consortium and [Georgia Power] (on behalf of the owners)

are expected to arise throughout the construction of Vogtle 3 and 4."

On February 15, 2012, nine groups -- Friends of the Earth, Southern Alliance for Clean Energy, Blue Ridge Environmental Defense League, Center for a Sustainable Coast, Citizens Allied for Safe Energy, Georgia Women's Action for New Directions, NC WARN, Nuclear Information and Resource Service, and Nuclear Watch South -- held a news conference to warn that Southern Company is deliberately keeping ratepayers and U.S. taxpayers in the dark by covering up the details of 12 sizeable construction "change order" requests that are expected to add major delays and cost overruns to the controversial reactor project.

The groups said they will continue to press their case by filing a brief with the U.S. Court of Appeals for the D.C. Circuit.