Post by Logan on May 13, 2017 23:15:26 GMT -6
Georgia Power reaches tentative deal to take over Plant Vogtle work
Georgia Power and Westinghouse Electric late Friday said they reached a tentative agreement for the Atlanta utility and Southern Nuclear to take over management of the troubled Plant Vogtle project indefinitely from the bankrupt contractor.
The new agreement will take effect “once the current … construction contract is rejected in Westinghouse’s bankruptcy proceeding,” the companies said.
The two companies said the existing interim agreement, which was set to expire Friday, will be extended to June 5 to give the parties time to finalize the new agreement and get required approvals, including from the bankruptcy court. Atlanta-based Southern Company is the parent firm of both Georgia Power and Southern Nuclear.
Georgia Power did not indicate in its terse statement what its long-term plans are for the nuclear expansion project.
Read more: www.ajc.com/business/georgia-power-reaches-tentative-deal-take-over-plant-vogtle-work/hM4YJABYA4RLgNXL2V212O/
Georgia Power and Westinghouse Electric late Friday said they reached a tentative agreement for the Atlanta utility and Southern Nuclear to take over management of the troubled Plant Vogtle project indefinitely from the bankrupt contractor.
The new agreement will take effect “once the current … construction contract is rejected in Westinghouse’s bankruptcy proceeding,” the companies said.
The two companies said the existing interim agreement, which was set to expire Friday, will be extended to June 5 to give the parties time to finalize the new agreement and get required approvals, including from the bankruptcy court. Atlanta-based Southern Company is the parent firm of both Georgia Power and Southern Nuclear.
Georgia Power did not indicate in its terse statement what its long-term plans are for the nuclear expansion project.
Read more: www.ajc.com/business/georgia-power-reaches-tentative-deal-take-over-plant-vogtle-work/hM4YJABYA4RLgNXL2V212O/