The Southern Co.’s aggressive sales of assets helped it retain its credit rating, despite financial losses at Georgia Power that relate to Plant Vogtle. Those losses prompted Moody’s Investors Service to downgrade Georgia Power’s credit rating.
A new report on the construction status of the Vogtle nuclear plant, released Wednesday by Moody’s Investors Service, provides greater detail than a May 10 statement released by Georgia Power and cites a number of risks that could further delay the plant’s opening date.
At Friday morning’s Sustainable Atlanta Roundtable (SART), State Sen. Chuck Hufstetler (R-Rome) strongly criticized the financial plan to pay for the two new nuclear power plants at Plant Vogtle.
Hufstetler, chairman of the Senate Finance Committee, openily criticized Senate Bill 31 that passed in 2009 that approved the financial plan for Plant Vogtle. It was called the Georgia Nuclear Energy Financing Act, which permitted the utility to begin recovering the costs of financing the construction of the new nuclear plants from consumers before they came on line.