Skip to main content
Visit our new News website at
Friday, June 18, 2010 - 1:03pm

Southern Co. Accepts Federal Backing

Southern Company today decided to accept $8.3 billion dollars in federal
loan guarantees from the federal government. It’s the first such guarantee for new nuclear reactors in the United States in a generation.

The loan guarantees are still contingent on approval from the U.S. Nuclear Regulatory Commission for 2 new reactors at Plant Vogtle in Burke County.

Southern Co. Chief Executive Officer David Ratcliffe called the deal "another step forward on the road to nuclear energy, which he says will play a huge part in America’s energy future.

Construction of the reactors will be financed in part by a controversial pre-charge to customers.

The Southern Alliance for Clean Energy calls the new reactors risky and too expensive. Taxpayers, the groups says, are now on the hook should the project go “belly up".

Related Articles