Let the Vogtle DOE Loan Vanish

vogtle_2014by Kennedy Maize
Washington, D.C., January 21, 2014 – Sorry, I confess I just don’t get it. Why is the Department of Energy still negotiating with the Southern Company for a below-market loan to finish construction of two more units at Georgia Power’s Vogtle nuclear plant?

The utility says it will go it alone if the Obama administration doesn’t come through with a loan of $8.3 billion (for what is now a $15.5 billion project). Indeed, construction is going forward on the project, and it appears to be on schedule. So why should Uncle Sam subsidize the project?

Let ’em go. If the Southern Co, doesn’t need the money, that’s great. Go for it, Southern.

The only answer I’ve seen so far is that without the federal largess, local customers will pay more for electricity. So Southern Co., Municipal Energy Agency of Georgia, Oglethorpe Power Corp., and the city of Dalton want federal taxpayers to subsidize Georgia electric customers. Huh? Again, I don’t get it.

Read the whole article: Powernews

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