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Southern Co. decides to move forward on Plant Vogtle project

Atlanta-based Southern Co. has decided to push forward with completion of an over-budget, behind-schedule nuclear expansion at Plant Vogtle rather than give up on what has ballooned into a $25.2 billion project.

Southern affiliate Georgia Power Co. filed a recommendation Thursday with the state Public Service Commission (PSC) to continue construction at the nuclear plant south of Augusta, Ga. The project’s co-owners, Oglethorpe Power, MEAG Power and Dalton Utilities all supported the recommendation, Paul Bowers, chairman, president and CEO of Georgia Power told Atlanta Business Chronicle in an exclusive interview minutes after the announcement.

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Hero or villain of Plant Vogtle could be billionaire pioneer of high risk junk bonds

The hero or villain of the effort to save Plant Vogtle could prove to be the head of a private equity firm who pioneered junk bonds and was nearly scuttled in 1990. Georgia Power protested terms of the loan deal, but a New York judge provided some protection and last week ordered that the entire $800 million in loan funds should flow.

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