July 30 (Reuters) – Southern Co said Thursday that it had recorded a pre-tax rate of $149 million in second-quarter profits due to a imaginable construction in charge of the construction of two delayed reactors at its Vogtle nuclear power plant in Georgia. , connected to the coronavirus.
Despite imaginable charge increases, Southern said it still planned to complete the reactors before their regulatoryly approved commissioning dates in November 2021 and November 2022.
In April, Southern’s Georgia energy unit reduced the fashion structure by about 20% as coronavirus absenteeism increased.
Southern said the number of cases on the site had decreased particularly in May and early June, but had begun to accumulate in mid-June and “continues to have an effect on the degrees of productivity and speed of the final touch of operations. . “
Georgia Power estimated its COVID-19 mitigation price percentage and its effects on the structure’s productivity between $70 million and $115 million.
When Georgia’s application regulators approved Vogtle’s in 2009, the two 1117-megawatt Westinghouse AP1000 (units 3 and 4) reactors are expected to charge about $14 billion and inbound service in 2016 and 2017.
But analysts estimate that prices have skyrocketed to more than $25 billion due to delays similar to the nuclear turn of fate at the Japanese Fukushima plant in 2011 and the bankruptcy of Westinghouse in 2017, the project’s former lead contractor.
Mizuho’s power analysts said Southern’s percentage of Vogtle’s structural prices would probably be around $1.1 billion from the $7.3 billion considered moderated by Georgian regulators. Analysts also estimated that Vogtle four will enter service until June 2023.
Georgia Power owns 45.7% of Vogtle’s expansion and expects its share of the total capital charge to be approximately $8.5 billion. The company also estimated the financing prices of its structure at around $3 billion.
Other co-owners of the assignment include Oglethorpe Power Corp, the Georgia Municipal Energy Authority (MEAG Power) and Dalton Utilities.
Reporting through Scott DiSavino; edited through Jonathan Oatis
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