Builder projects 18-month delay for new nuclear power plant in Georgia

EnergyAssociated Press

Construction of a new nuclear plant in Georgia could be delayed 18 months, raising costs for builders and owners.

Southern Co. said Thursday that the firms designing and building the new plant expect work on the first reactor will be complete in mid-2019, and the second reactor will be finished in mid-2020. The reactors were supposed to be running by 2016 and 2017, respectively.

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Delays cost big money in the power industry. For every month of delay, Southern Co. subsidiary Georgia Power expects to incur $40 million in additional capital and financing costs.

Southern Co. officials said they have not agreed to the builder's timeline. An identical plant under construction in South Carolina is also delayed.

The plants are designed by Westinghouse Electric Co. and built by Chicago Bridge & Iron Co.