Nuclear Project Progress: Unit 4 Set to Power Plant Vogtle by 2024 The government approved radioactive materials for a new nuclear plant in Georgia.
The Nuclear Regulatory Commission approved Georgia Power Co. and co-owners to power Unit 4 at Plant Vogtle.
It’s a crucial step towards completing the two-reactor project, which is 7 years behind schedule and $17 billion over budget.
Georgia Power, part of Southern Company, plans to load fuel by September’s end.
It’s a big step forward because Unit 3 must be ready by Monday. After another month of waiting due to a turbine seal leak, a new limit has been set for consistent electricity delivery to the grid. According to NRC records, the plant ran at 98% capacity on Friday.
Two old reactors still operational at Plant Vogtle.
Georgia Power announced on Friday that the reactor core will soon be loaded with 157 fuel units. The fuel has been checked and stored.
After adding fuel, the atom splitting process will be tested and initiated. This raises the temperature to boil steam for powering turbines. Unit 4 expected by March 2024, per company.
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Most Georgians will pay Vogtle for electricity. Currently, Georgia Power owns 45.7% of the reactors. Smaller parts owned by Oglethorpe Power Corp. sell electricity to cooperatives, the Municipal Electric Authority of Georgia, and Dalton City. Some FL and AL companies will also purchase Vogtle’s power.
The owners must now pay $29.45 billion for capital and financial costs, according to the AP. When you add Westinghouse’s $3.7 billion payment to Vogtle owners, the total is nearly $35 billion.
Georgia Power customers have paid for part of the financing costs for the third unit. Regulators approved a $3.78 monthly rate increase for when the third unit is operational.
The five PSC members will decide who pays for the remaining costs. Once fuel is added to the fourth plant, Georgia Power can decide how to allocate its funds. This process determines customer payments for Vogtle, not owner losses. Since 2018, Southern Co. has written off $3.26 billion in Vogtle losses, indicating potential unrecoverable costs.
Commissioners once believed Georgia Power’s $5.8 billion decision was favorable. People expect the company to spend over $10 billion on buildings and $3.5 trillion on money.
Over 500k homes and businesses can be powered by the two new plants.
Vogtle is the sole US nuclear plant under construction. While carbon-free plants don’t emit carbon, their costs and delays may deter other companies from constructing them.
Our Reader’s Queries
What is the current status of nuclear power?
Currently, nuclear energy accounts for roughly 10% of the world’s electricity, generated by approximately 440 power reactors. This form of energy is responsible for producing around one-quarter of the world’s low-carbon electricity, making it the second largest source of low-carbon power globally. As of 2020, nuclear energy contributed to 26% of the total low-carbon power generated worldwide.
Are any new nuclear plants being built?
Georgia Power is anticipating the launch of Vogtle Unit 4, a fourth reactor of similar size, between November 2023 and March 2024. With the addition of these two new reactors, Plant Vogtle will become the largest nuclear power plant in the United States, surpassing Arizona’s Palo Verde plant, which has a capacity of 4,210 MW.
What is the status of Vogtle 3 and 4?
The in-service date was originally scheduled for late this year or early 2024. However, the motor fault on the RCP at Vogtle 4 has caused a delay. Southern Nuclear, the plant operator, believes that this is an isolated event as the four RCPs at Vogtle 3 have operated as designed. Despite the setback, the companies remain optimistic about the future of the project.
Is the US getting its first new nuclear reactor in 40 years?
The United States has achieved a significant milestone in nuclear energy with the completion of new units at Plant Vogtle in Waynesboro, Georgia. After a gap of over 40 years, the country now has its first new nuclear reactor. These new reactors mark a major achievement for the nuclear energy sector in the US, as they are the first of their kind in decades.