Westinghouse bankruptcy puts $8.3B in federal loan guarantees for Vogtle plant at risk

$8.3 billion in federal taxpayer-back nuclear loan guarantees are at stake, if Vogtle 3 & 4’s partners (including Southern Co.’s Georgia Power) default on their loan repayment. See posts in this LOAN GUARANTEE section, below, for more information on this.

Under the 30-day interim agreement, Georgia Power is paying Westinghouse $5.4 million a week to keep work going at the Vogtle site while it evaluates whether to continue construction or shut the.

Carbon Brief has plotted the nation’s power stations in an interactive map (above) to show how and where the US generates electricity. only federal policy, but also technologies, geographies,

The Alvin W. Vogtle Electric Generating Plant, also known as Plant Vogtle (/ v o l /), is a 2 unit nuclear power plant located in Burke County, near Waynesboro, Georgia, in the southeastern united states.It is named after a former Alabama Power and southern company board chairman, Alvin Vogtle.

Initially, DOE conditionally offered Southern Company and its partners (the Plant Vogtle owners) a total of $8.33 billion in taxpayer-backed loan guarantees to build two nuclear reactors in Georgia in February 2010. According to documents obtained through the Freedom of Information Act, the Department of Energy and project partners struggled to reach an agreement on an appropriate credit subsidy cost for the loan guarantees.

The owners of Summer never asked for a Federal loan guarantee in the first place. The plant’s lead operator, SCE&G, refused to apply for a loan guarantee because they felt it was unnecessary and would complicate raising commercial loans to finance.

Southern Company’s (SO) Vogtle project requires additional loan guarantee of $1.6 billion from the DOE, extending the $8.3 billion already issued for the project.

Westinghouse Plant Vogtle bankruptcy will cost Georgia ratepayers and workers. Chatham County taxpayers have already paid at least $7 million to finance two new nuclear reactors at Plant. Vogtle. The project received $8.3 billion in federal loan guarantees from the U.S..

Law360, New York (February 6, 2012, 4:33 PM EST) — As the country’s first new nuclear power plant. bankruptcy filing in August put the DOE’s loan guarantee program under the microscope. “It’s.

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Despite a federal loan guarantee. plant that will serve us for decades.” georgia power returned to this theme in its 17th VCM filing. “[T]he conditions under which the project was first certified.