All ITAACs have been submitted for Vogtle Unit 3

Rhea-AI Summary

Georgia Power has announced the completion of critical inspections for Vogtle Unit 3, with all 398 Inspections, Tests, Analyses, and Acceptance Criteria (ITAACs) successfully met. This step is crucial for the Nuclear Regulatory Commission (NRC) to issue the 103(g) finding needed for fuel loading. Upon receipt of this finding, the startup sequence can begin. The new units aim to supply clean energy to over 500,000 homes while operating with no carbon emissions for 60 to 80 years, affirming Georgia Power's commitment to reliable energy delivery.

Positive

• Completion of all 398 ITAACs for Vogtle Unit 3.
• Expected to power over 500,000 homes with clean energy.
• No carbon emissions expected during operation.

Negative

• Pending 103(g) finding from the NRC for fuel loading.

Georgia Power awaits Nuclear Regulatory Commission 103(g) finding required to load fuel

ATLANTA, July 29, 2022 /PRNewswire/ -- Today, Georgia Power announced completion of another important step in the construction of the new nuclear units at the Vogtle 3 & 4 nuclear expansion site near Waynesboro, Ga. The company shared that Southern Nuclear has submitted documentation that all 398 inspections, tests and analyses have been performed and all acceptance criteria, collectively known as ITAACs, have been met on Vogtle Unit 3 as required by Southern Nuclear's Combined Operating License.  The completion of these ITAACs provides the Nuclear Regulatory Commission (NRC) assurance that the unit meets strict nuclear safety and quality standards.

As defined by the NRC, each ITAAC closure notice must be verified before fuel load.

Next, the company awaits receipt of the 103(g) finding from the NRC documenting that license acceptance criteria for Unit 3 have been met. This will indicate that the new unit has been constructed and will be operated in conformance with its Combined License and NRC regulations. Upon receipt of the 103(g) finding from the NRC, no further NRC findings are necessary in order for Southern Nuclear to load fuel and begin the startup sequence.

The team at the site continues working vigorously to bring the units online and continues preparations for Unit 3 fuel load and start up.

The new Vogtle units are an essential part of Georgia Power's commitment to delivering clean, safe, reliable and affordable energy. Once operating, the two new units at Plant Vogtle are expected to power more than 500,000 homes and businesses, providing clean energy with no carbon emissions for the next 60 to 80 years.

About Georgia Power
Georgia Power is the largest electric subsidiary of Southern Company (NYSE: SO), America's premier energy company. Value, Reliability, Customer Service and Stewardship are the cornerstones of the company's promise to 2.7 million customers in all but four of Georgia's 159 counties. Committed to delivering clean, safe, reliable and affordable energy at rates below the national average, Georgia Power maintains a diverse, innovative generation mix that includes nuclear, coal and natural gas, as well as renewables such as solar, hydroelectric and wind. Georgia Power focuses on delivering world-class service to its customers every day and the company is recognized by J.D. Power as an industry leader in customer satisfaction. For more information, visit www.GeorgiaPower.com and connect with the company on Facebook (Facebook.com/Georgia Power), Twitter (Twitter.com/GeorgiaPower) and Instagram (Instagram.com/ga_power).

Cautionary Note Regarding Forward-Looking Statements

Certain information contained in this release is forward-looking information based on current expectations and plans that involve risks and uncertainties. Forward-looking information includes, among other things, statements concerning the expected receipt the 103(g) letter and the future operation of Plant Vogtle Units 3 and 4. Georgia Power cautions that there are certain factors that can cause actual results to differ materially from the forward-looking information that has been provided. The reader is cautioned not to put undue reliance on this forward-looking information, which is not a guarantee of future performance and is subject to a number of uncertainties and other factors, many of which are outside the control of Georgia Power; accordingly, there can be no assurance that such suggested results will be realized. The following factors, in addition to those discussed in Georgia Power's Annual Report on Form 10-K for the year ended December 31, 2021, and subsequent securities filings, could cause actual results to differ materially from management expectations as suggested by such forward-looking information: the potential effects of the continued COVID-19 pandemic; the ability to control costs and avoid cost and schedule overruns during the development, construction, and operation of facilities or other projects, including Plant Vogtle Units 3 and 4, which includes components based on new technology that only within the last few years began initial operation in the global nuclear industry at this scale, due to current and/or future challenges which include, but are not limited to, changes in labor costs, availability and productivity, challenges with management of contractors or vendors, subcontractor performance, adverse weather conditions, shortages, delays, increased costs, or inconsistent quality of equipment, materials, and labor, contractor or supplier delay, delays due to judicial or regulatory action, nonperformance under construction, operating, or other agreements, operational readiness, including specialized operator training and required site safety programs, engineering or design problems or any remediation related thereto, design and other licensing-based compliance matters, including, for nuclear units, inspections and the timely submittal by Southern Nuclear of the Inspections, Tests, Analyses, and Acceptance Criteria documentation for each unit and the related investigations, reviews and approvals by the U.S. Nuclear Regulatory Commission ("NRC") necessary to support NRC authorization to load fuel, challenges with start-up activities, including major equipment failure, or system integration, and/or operational performance, and challenges related to the COVID-19 pandemic; the ability to overcome or mitigate the current challenges at Plant Vogtle Units 3 and 4 that could further impact the cost and schedule for the project; legal proceedings and regulatory approvals and actions related to construction projects, such as Plant Vogtle Units 3 and 4, including Public Service Commission approvals and NRC actions; under certain specified circumstances, a decision by holders of more than 10% of the ownership interests of Plant Vogtle Units 3 and 4 not to proceed with construction and the ability of other Vogtle owners to tender a portion of their ownership interests to Georgia Power following certain construction cost increases, including the purported exercises by Oglethorpe Power Corporation ("OPC") and the City of Dalton of their tender options and related litigation initiated by OPC and Municipal Electric Authority of Georgia; the ability to construct facilities in accordance with the requirements of permits and licenses (including satisfaction of NRC requirements), to satisfy any environmental performance standards and the requirements of tax credits and other incentives, and to integrate facilities into the Southern Company system upon completion of construction; the inherent risks involved in operating and constructing nuclear generating facilities; the ability of counterparties of Georgia Power to make payments as and when due and to perform as required; the direct or indirect effect on Georgia Power's business resulting from cyber intrusion or physical attack and the threat of physical attacks; catastrophic events such as fires, earthquakes, explosions, floods, tornadoes, hurricanes and other storms, droughts, pandemic health events, political unrest, wars or other similar occurrences; and the direct or indirect effects on Georgia Power's business resulting from incidents affecting the U.S. electric grid or operation of generating or storage resources. Georgia Power expressly disclaims any obligation to update any forward–looking information.

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SOURCE Georgia Power

FAQ

What are the recent developments for Southern Company's stock SO regarding Vogtle Unit 3?

Georgia Power has completed all required inspections for Vogtle Unit 3, which is a significant step before the NRC issues the necessary 103(g) finding for fuel loading.

When will Georgia Power start fuel loading for Vogtle Unit 3?

Georgia Power is awaiting the 103(g) finding from the NRC. Once received, fuel loading can begin.

How many homes will the new Vogtle units power?

The new units at Plant Vogtle are expected to power more than 500,000 homes.

What is the expected operational lifespan of the new Vogtle units?

The new Vogtle units are expected to operate for 60 to 80 years with no carbon emissions.

What does the completion of ITAACs mean for Southern Company's stock SO?

The completion of ITAACs indicates that Vogtle Unit 3 meets the NRC's safety and quality standards, which is a positive sign for the future of the project.