First nuclear concrete placed at Plant Vogtle expansion

Significant milestone for project vital to Georgia's energy future

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Mar 14, 2013, 03:55 ET

ATLANTA, March 14, 2013 /PRNewswire/ -- Georgia Power has completed the placement of basemat structural concrete for the nuclear island at its Vogtle Unit 3 nuclear expansion site, a significant achievement in the building of the first new nuclear units in the United States in 30 years.

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"This historic moment marks yet another important milestone of the Vogtle expansion project and reflects the tremendous progress we've made at the site," said Georgia Power Nuclear Development Executive Vice President Buzz Miller. "We are very proud of this accomplishment, and of all the hard work and collaboration that went into making it happen. This was a team effort that included Georgia Power, Southern Nuclear, CB&I, Westinghouse Electric Company and our co-owners - Oglethorpe Power Corporation, the Municipal Electric Authority of Georgia and Dalton Utilities."

Georgia Power is building two new nuclear energy facilities at Plant Vogtle units 3 and 4, near Waynesboro.

The full outlines of both nuclear islands at Vogtle have been completed to grade level. The first components for erecting the Unit 3 containment vessel are completed and staged for installation once the basemat concrete has cured, including the CR10 cradle and the Unit 3 containment vessel bottom head.

While maintaining focus on safety, quality and compliance, the basemat concrete placement was completed in approximately 41 hours. The placement at Vogtle Unit 3 encompassed approximately 7,000 cubic yards of concrete, which will serve as the foundation for all of the nuclear island structures, including the containment vessel and the shield building. It covered an area approximately 250 feet long and 160 feet wide at its widest point, and the concrete measured six feet in thickness.

The construction of Vogtle 3 and 4 is the largest job-producing project in Georgia, employing approximately 5,000 people during peak construction and creating 800 permanent jobs when the plant begins operating. Once complete, the new units will produce enough electricity to power 500,000 Georgia homes and businesses.

Unit 3 is scheduled to go on line in 2017, and Unit 4 will follow in 2018.

The facility provides at least $4 billion more value to customers than the next best available technology, including natural gas generation. Georgia Power is in position to provide customers with up to $2 billion in potential benefits in the form of savings related to recovering financing costs during construction, DOE loan guarantees, production tax credits, lower-than-forecast interest rates and lower-than-forecast commodity costs.

Southern Nuclear, a subsidiary of Southern Company, is overseeing construction and will operate the two new 1,100-megawatt AP1000 units for Georgia Power and co-owners Oglethorpe Power Corporation, the Municipal Electric Authority of Georgia and Dalton Utilities. Georgia Power owns 45.7 percent of the new units.

Georgia Power is the largest subsidiary of Southern Company, one of the nation's largest generators of electricity. The company is an investor-owned, tax-paying utility with rates below the national average. Georgia Power serves 2.4 million customers in all but four of Georgia's 159 counties.

Cautionary Note Regarding Forward-Looking Statements:
Certain information contained in this release is forward-looking information based on current expectations and plans that involve risks and uncertainties. Forward-looking information includes, among other things, statements concerning job creation, benefits to customers and the completion of construction and other projects. Georgia Power cautions that there are certain factors that can cause actual results to differ materially from the forward-looking information that has been provided. The reader is cautioned not to put undue reliance on this forward-looking information, which is not a guarantee of future performance and is subject to a number of uncertainties and other factors, many of which are outside the control of Georgia Power; accordingly, there can be no assurance that such suggested results will be realized. The following factors, in addition to those discussed in Georgia Power's Annual Report on Form 10-K for the year ended December 31, 2012, and subsequent securities filings, could cause actual results to differ materially from management expectations as suggested by such forward-looking information: the impact of recent and future federal and state regulatory changes, as well as changes in application of existing laws and regulations; current and future litigation, regulatory investigations, proceedings, or inquiries; ability to control costs and avoid cost overruns during the development and construction of the Plant Vogtle expansion; regulatory approvals and actions related to the Plant Vogtle expansion, including Georgia Public Service Commission approvals, Nuclear Regulatory Commission actions, and potential U.S. Department of Energy loan guarantees; the inherent risks involved in operating and constructing nuclear generating facilities, including environmental, health, regulatory, natural disaster, terrorism, or financial risks; and the ability of counterparties of Georgia Power to make payments as and when due and to perform as required. Georgia Power expressly disclaims any obligation to update any forward-looking information.

www.georgiapower.com

SOURCE Georgia Power