Vogtle nuclear plant expansion partners, contractors agree to settlement

Southern Company subsidiary Georgia Power and its partners in the expansion of Plant Vogtle, near Waynesboro, Georgia, have reached a settlement with contractors Westinghouse Electric Co. and CB&I over litigation tied to the plant's expansion project, Southern Company said on Monday.

The deal settles any ongoing litigation, adds new contractual protections, reaffirms the project's timetable and confirms Westinghouse and its subsidiaries as the primary contractors over the project. Through this settlement agreement, the customer rate impact is set at approximately 2.5 percent. Georgia Power’s portion of the settlement is approximately $350 million.

"This settlement is extremely positive for the Vogtle expansion," Buzz Miller, executive vice president of nuclear development for Georgia Power, said. "The project is more than halfway completed based on contractual milestones, with all parties focused 100 percent on project execution."

Georgia Power said the two new reactors are expected to begin operations in June 2019 and 2020. The company shares ownership of the expansion project with the Municipal Electric Authority of Georgia, Dalton Utilities and Oglethorpe Power Corp.

Westinghouse said Fluor Corp. has been contracted to manage the workforce on the project.