Georgia Power to take over Plant Vogtle project management from Westinghouse

Georgia Power said late May 12 that it and Westinghouse have in principle reached a new service agreement for Southern Co.'s (NYSE: SO) Southern Nuclear subsidiary and Georgia Power to take over project management of the Plant Vogtle nuclear plant expansion.

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Georgia Power said an interim agreement will remain in place until June 3 while the new service agreement is finalized and all approvals are obtained. Approximately 6,000 workers have remained on the project. Read more here.

Westinghouse, the primary contractor building the nuclear plant expansion, filed for bankruptcy protection on March 29.

Southern Co. is facing a "pivotal decision" about whether to continue with the project. Speaking to analysts on May 3, Southern Co. CEO Tom Fanning said," Ultimately, Georgia Power's objective is to be positioned with sufficient information to make a fully informed recommendation to its regulators within the next month or two. It is possible that we will need more time to ensure that we have the best information possible and to reach consensus with the co-owners regarding the best path forward for customers and all other stakeholders."

To read more, please visit: http://www.bizjournals.com/atlanta/news/2017/05/15/georgia-p...

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LaShon is M.A.G. senior editor, radio personality hostess, sales consultant, voice actress, and entrepreneur. LaShon has professional experience to include hotel management, social media strategist, narrating and business owner. In her spare time, LaShon likes to craft, and ride motorcycles.