Utilities building two new reactors at Plant Vogtle will ask for a second extension to complete negotiations on an $8.3 billion loan guarantee.
A Southern Co. executive confirmed the move during a recent meeting with state power regulators, the Augusta Chronicle reported. The Department of Energy conditionally granted the guarantee in 2010 but has yet to reach a final agreement with Southern and co-owners that include Oglethorpe Power and the Municipal Electric Authority of Georgia. They maintain they can complete the $14 billion project without a loan guarantee but remain committed to the negotiations.
An Oglethorpe Power executive told investors in a recent conference call that an agreement might be reached in the first half of next year.