More than $900 million cost overrun documented at Vogtle 3 & 4 new reactor construction project

"Burning Money" image by Gene Stilp, Avenging AngelsA coalition of environmental groups, including North Carolina Waste Awareness and Reduction Network (NC WARN), has issued a press release decrying a nearly billion dollar cost overrun at the Vogtle 3 & 4 new reactor construction project in Georgia. The groups warn that further cost increases are likely, due to rushed design and construction that has led to errors, as in sub-foundation grading, rebar quality assurance, and even radiological containment "shield building" design and construction.

Ironically, Vogtle Units 1 & 2 came in at 3,000% their original price tag! Originally, the proposal was to build four reactors at Vogtle, but only two were built. However, even Vogtle 1 & 2 came in at 1,200% the original price tag for the four reactor proposal. Vogtle 3 & 4's skyrocketing price tag continues a history of massive cost overruns at the Vogtle nuclear power plant -- a tradition that the nuclear industry companies being paid those cost overruns, at ratepayer expense and taxpayer risk -- don't mind too much.

The coalition's expert witness Arjun Makhijani, President of the Institute for Energy and Environmental Research (IEER), said: “Southern Company rushed into this project, as evidenced by the many requests for modifications of the license and early technical difficulties and problems including failure of ‘some details’ of early construction to conform to the Design Control Document, according to Georgia Power’s filing with the Securities and Exchange Commission.  Indeed, a part of the cost increase of $900 million appears to be attributable to overcoming delays and rushing the project again despite construction non-compliance.  The cost increase should not be a surprise; rather it is déjà vu all over again.  Rushing nuclear power reactors is not prudent and stockholders and/or the vendors, not ratepayers, should bear the burden of such costs.  It would be much better if construction were suspended until all design issues were resolved.”