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4-Traders Homepage  >  Shares  >  Nyse  >  Southern Co    SO   US8425871071

SOUTHERN CO (SO)

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Southern : likely to construct additional nuclear power reactors in US

07/25/2014 | 09:21am US/Eastern

The company has become the first one to pursue new nuclear reactors after the U.S. Environmental Protection Agency's announcement for reducing carbon emissions from existing power plants to 30% below 2005 levels by 2030.

Nuclear power reactors produce almost no carbon emissions.

Already, the company is developing two new 1,117MW reactors at its Vogtle nuclear site in Georgia.

Meanwhile, Southern Company CEO Tom Fanning said that any new reactors are estimated to be of the same Westinghouse AP1000 design.

Fanning said that the company is also assessing six possible sites for more reactors, while it includes existing plants and greenfield locations.

The under construction Vogtle units estimated to cost around $14bn but delays related to licensing have added about $381m.

Southern Company has applied with the US Nuclear Regulatory Commission to construct the Vogtle units now under construction in 2008 and finally gained NRC approval in 2012.

However, the company's first new Vogtle reactor are likely to enter service in late 2017 or early 2018, while the second unit in about a year later.

(c) 2014 GlobalData Provided by SyndiGate Media Inc. (Syndigate.info).

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