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Southern Co. CEO faces shareholders, says Vogtle decision coming

Despite headlines about cost overruns and delays at its Georgia nuclear project and a new Mississippi plant, Southern Company “continues to perform beautifully,” CEO Tom Fanning told shareholders Wednesday.

Westinghouse, the main contractor on Georgia Power’s Plant Vogtle near Augusta, Ga. and Scana Corps’ Summer Nuclear Station in South Carolina, recently sought bankruptcy court protection.

But Fanning also disclosed that it will take more time than expected for the Atlanta-based parent of Georgia Power and other utilities to decide whether it should continue to pursue the nuclear expansion of Plant Vogtle near Augusta.

Power company officials had said they hoped to have a decision by the shareholder meeting, or at least in June, about whether to ask Georgia regulators to stick with the delayed project, complete only part of it for now or drop the new nuclear endeavor. Fanning said they’ll need more time.

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