With work 60 percent complete across the Vogtle Units 3 and 4 construction site, Georgia Power said Thursday that the Georgia Public Service Commission (PSC) has verified and approved $148 million in costs submitted by the company through the 13th Vogtle Construction Monitoring (VCM) Report.
The report details progress and investments made by Georgia Power for the Vogtle nuclear expansion from January 1 through June 30, 2015. To date, the Georgia PSC has unanimously reviewed and approved $3.1 billion invested by the company through the rigorous and transparent VCM process, the company said in a statement.
The projected overall peak rate impact of the Vogtle nuclear expansion is significantly less than when the project was originally certified due to financing and other benefits that we have proactively pursued, and the fuel saving of nuclear. The project's remaining projected customer rate impact is still approximately 2.5 percent, an average of less than 1 percent per year through the expected completion dates of June 2019 for Unit 3 and June 2020 for Unit 4.
The VCM process, recurring every six months, provides the members of the Georgia PSC, Georgia Power and various other organizations and individuals, the opportunity to review and discuss the progress of the first new nuclear units to be built in the United States in more than three decades. Completing the Vogtle expansion remains the best cost option for Georgia electric customers and, with an operating lifetime of more than 60 years, the new units will ensure that the state's electrical infrastructure is prepared to meet increased demand tied to anticipated economic growth.
Work continues across the Vogtle site. Progress over the past 30 days includes the placement of approximately 750 cubic yards of concrete through a 10 hour continuous pour within the Unit 3 containment area, the installation of eight new shield building panels for Unit 3; installation of four feedwater heaters in the Unit 3 turbine building; the completion of welding of the Unit 4 Condenser B upper shell to the lower shell; and installation of new structural steel within the Unit 4 turbine island.
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