Georgia Power's new Vogtle units approximately 79% complete

Target in-service dates remain unchanged

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Aug 30, 2019, 11:19 ET

ATLANTA, Aug. 30, 2019 /PRNewswire/ -- The target in-service dates for Georgia Power's Vogtle 3 & 4 nuclear expansion project near Waynesboro, Ga., remain unchanged at November 2021 for Unit 3 and November 2022 for Unit 4, the company announced today in its project update filed with the Georgia Public Service Commission (PSC). The company also cited it expects the project will remain within the current cost forecast.

Georgia Power filed today its combined 20^th and 21^st Vogtle Construction Monitoring (VCM) Report for the period July 1, 2018 through June 30, 2019, with the PSC. A link to the filing can be found here.

Significant progress continues to be made at the construction site, with the project now approximately 79% complete.

The project met all major milestones in 2018 and met all first and second quarter major milestones for 2019. Recently, the site completed a major step in the Integrated Flush process by successfully testing a portion of the Spent Fuel Pool Cooling System (SFS), a key safety component for Vogtle Unit 3. In addition, the company ordered the first nuclear fuel load for the unit, the first nuclear fuel order to be placed in more than 30 years for a newly-designed reactor in the U.S., marking a major milestone in the project's transition to operations.

Other milestones include:

setting of all four reactor coolant pumps inside the Unit 3 containment vessel
setting of the Unit 3 containment vessel top head
completion of Unit 3 initial energization and the start of the integrated flush process for Unit 3
placement of both accumulator tanks, both steam generators and the pressurizer inside Unit 4 containment
setting the second ring of the Unit 4 containment vessel

The project workforce remains at an all-time high with approximately 8,000 workers on site. With more than 800 permanent jobs available once the units begin operating, Vogtle 3 & 4 is currently the largest jobs-producing construction project in the state of Georgia.

VCM process
The company files a VCM report to provide the PSC a detailed update on progress and other information related to the construction of the nation's only new nuclear units. The VCM process includes public hearings held at the PSC, as well as reports filed by the PSC staff's independent construction monitor.

New construction time-lapse video highlights progress since groundbreaking
Georgia Power has released a new video of the nation's only new nuclear units currently under construction. From the removal of four million cubic yards of soil, to historic module and concrete placements, the video includes milestones throughout the project's history. Once completed, units 3 & 4 will generate enough electricity to power approximately 500,000 homes and businesses.

Follow the progress being made at the site with the Plant Vogtle 3 & 4 Online Photo Gallery.

About Georgia Power
Georgia Power is the largest electric subsidiary of Southern Company (NYSE: SO), America's premier energy company. Value, Reliability, Customer Service and Stewardship are the cornerstones of the company's promise to 2.6 million customers in all but four of Georgia's 159 counties. Committed to delivering clean, safe, reliable and affordable energy at rates below the national average, Georgia Power maintains a diverse, innovative generation mix that includes nuclear, coal and natural gas, as well as renewables such as solar, hydroelectric and wind. Georgia Power focuses on delivering world-class service to its customers every day and the company is consistently recognized by J.D. Power and Associates as an industry leader in customer satisfaction. For more information, visit www.GeorgiaPower.com and connect with the company on Facebook (Facebook.com/GeorgiaPower), Twitter (Twitter.com/GeorgiaPower) and Instagram (Instagram.com/ga_power).

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 the expected cost and schedule for construction of Plant Vogtle Units 3 and 4. 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, 2018 and subsequent securities filings, could cause actual results to differ materially from management expectations as suggested by such forward-looking information: the ability to control costs and avoid cost and schedule overruns during the development, construction, and operation of facilities, including Plant Vogtle Units 3 and 4, which includes components based on new technology that only recently began initial operation in the global nuclear industry at this scale, and including changes in labor costs, availability and productivity; challenges with management of contractors, subcontractors or vendors; adverse weather conditions; shortages, delays, increased costs or inconsistent quality of equipment, materials, and labor; contractor or supplier delay; nonperformance under construction, operating, or other agreements; operational readiness, including specialized operator training and required site safety programs; engineering or design problems; design and other licensing-based compliance matters, including the timely submittal by Southern Nuclear of the Inspections, Tests, Analyses, and Acceptance Criteria documentation for each unit and the related reviews and approvals by the U.S. Nuclear Regulatory Commission ("NRC") necessary to support NRC authorization to load fuel; challenges with start-up activities, including major equipment failure, system integration or regional transmission upgrades; and/or operational performance; the ability to construct facilities in accordance with the requirements of permits and licenses (including satisfaction of NRC requirements), to satisfy any environmental performance standards and the requirements of tax credits and other incentives, and to integrate facilities into the Southern Company system upon completion of construction; legal proceedings and regulatory approvals and actions related to construction projects, such as Plant Vogtle Units 3 and 4 and pipeline projects, including public service commission approvals and Federal Energy Regulatory Commission and NRC actions; under certain specified circumstances, a decision by holders of more than 10% of the ownership interests of Plant Vogtle Units 3 and 4 not to proceed with construction, and the ability of other Vogtle owners to tender a portion of their ownership interests to Georgia Power following certain construction cost increases; the inherent risks involved in operating and constructing nuclear generating facilities; the ability of counterparties of Georgia Power and its subsidiaries to make payments as and when due and to perform as required. Georgia Power expressly disclaims any obligation to update any forward‐looking information.

SOURCE Georgia Power