Saturday, May 06, 2017

Fanning:  Southern Needs $3.7B from Toshiba to Finish Vogtle Nuke

Vogtle (Credit:  Wikimedia commons) Click to Enlarge.
Southern Co. will need $3.7 billion in guarantees that Toshiba has posted for its bankrupt Westinghouse Electric unit in order to finish the Vogtle nuclear project in Georgia, the company's CEO told the Wall Street Journal. 

Even with that amount, CEO Thomas Fanning told investors on an earnings call the guarantee may not be sufficient to complete the nuclear project, which is years behind schedule and billions over budget. 

Fanning told investors Southern is “seeking to add structure to Toshiba’s payment obligations,” and that the utility wants to make a decision on whether to finish the plant "in the next month or two."

Read more at Fanning:  Southern Needs $3.7B from Toshiba to Finish Vogtle Nuke

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