In a major development, a newly constructed nuclear reactor in Georgia has finally started operating, marking the first time in the past 30 years that such a project has been completed in the US, reports the Atlanta Journal-Constitution. However, there is a downside to this achievement. Unit 3 at Plant Vogtle near Waynesboro is seven years overdue and $17 billion over budget, which effectively eliminates any potential cost savings for the foreseeable future. Another reactor, Unit 4, is also in progress and is expected to commence operations next year, but it is already six years behind schedule and roughly $14 billion over budget. Despite the delays and financial setbacks, the launch of Unit 3 is still viewed as a significant milestone for the industry.
Chris Womack, CEO of Southern Co., the parent company of Georgia Power, expressed his enthusiasm for this achievement, stating, “This hadn’t been done in this country from start to finish in some 30-plus years. So to do this, to get this done, to get this done right, is a wonderful accomplishment for our company, for the state, and for the customers here in Georgia.” According to estimates provided by Georgia Power and cited by CNBC, the new reactor has the capacity to generate 1,100 megawatts of electricity, enough to power 500,000 homes and businesses. Maria Korsnick, CEO of the Nuclear Energy Institute, described it as a “significant achievement for the US nuclear energy industry and a milestone in advancing global clean and reliable energy solutions.”
Advocates argue that nuclear energy should play a crucial role in transitioning away from fossil fuels, although the high construction costs in Georgia may give future reactor planners some pause. Georgia Power ratepayers will experience a monthly bill increase of $4 or $5 beginning this month, now that Unit 3 is operational, as reported by the Journal-Constitution. Further rate increases are expected, pending a series of upcoming hearings later this year. Critics, including the Southern Environmental Law Center, maintain that solar and wind power would be more cost-effective options. (Read more nuclear power stories.)
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