Southern Co. negotiating on nuke loan guarantees
Southern Co. and its subsidiary, Georgia Power, are negotiating with the U.S. Department of Energy over the terms of the administration's $8.3 billion nuclear loan guarantee offer.
Among items on the table: How much Southern and its nuclear construction partners will pay towards the government's costs of guaranteeing the loans.
"We've offered a figure," said spokesman Steve Higginbottom. "We're not disclosing what it is at this time."
Georgia Power, Oglethorpe Power and municipal power companies in Georgia are building two new reactors at its two-unit Plant Vogtle near Augusta.
The Obama administration announced the loan guarantees Feb. 16. The company has 90 days to accept.
Georgia Power has a 45.7 percent stake in Plant Vogtle. It would use up to $3.4 billion of the loan guarantees.
