Legal
Southern to Pay $413 Million to Resolve Nuclear Plant Dispute
- Last reactor at delayed Vogtle project to go into service 1Q
- First of two reactors at project was completed in July
The company will pay $308 million to Oglethorpe Power Corp., one of its partners in the project, according to a filing Friday.
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Southern Co. has agreed to pay at least $413 million to settle a dispute over construction costs at the Vogtle nuclear plant in Georgia after the budget ballooned. It also said the site’s last reactor is slated to go into service in 2024 after discovering a fault in coolant pump.
The company will pay $308 million to Oglethorpe Power Corp., one of its partners in the project, according to a filing Friday. Southern also agreed to pay a portion of future costs, which it estimated at $105 million, plus two-thirds of costs that exceed that amount.