Secret Documents Highlight Nuclear's Risk to Taxpayers

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SACE announced the successful negotiation of FOIA release of secret Department of Energy documents revealing that Southern Company received significantly below-market credit subsidy fees for federal nuclear loan guarantees for the controversial Vogtle nuclear plant expansion in Georgia. The uncensored documents show Southern Company was offered a 0.5-1.5% credit subsidy fee compared to 2.5-4.3% for Oglethorpe Power and 5-11.1% for MEAG, putting billions in taxpayer dollars at risk. SACE's executive director Dr. Stephen Smith called for termination of the loan guarantee and investigation into the preferential treatment.