$30B Georgia Power nuclear plant delayed up to 6 more months

Georgia Power Co. now says the first of two nuclear reactors it’s building at Plant Vogtle near Augusta might not begin generating electricity until as late as March 2023 and the reactors will cost their owners nearly $30 billion.

Southern Co., the Atlanta-based parent of the Georgia utility, made the announcements as it released its annual earnings Thursday. The parent company took a further $920 million loss on the reactors and warned it could have to write off another $460 million depending on how a dispute with Vogtle co-owners turns out.

With the charge-offs, Southern Co. said it lost $215 million in the fourth quarter, or 20 cents per share, while earning a profit of $2.39 billion, or $2.26 per share, for the year.