Three of four Vogtle co-owners vote to move forward with construction
Three of the four Vogtle co-owners - representing 70% of the ownership - have voted in favor of moving forward with completion of the project. In contrast to the decision made by the other three co-owners, Oglethorpe Power has asked for an extension and demanded concessions to avoid obligations that it undertook when it became an owner of the project. All of the remaining co-owners have agreed to the extension in order to allow Oglethorpe Power more time to consider its vote. Vogtle 3 & 4 is the largest jobs-producing construction project in Georgia, employing more than 7,000 workers, and will be a 60-80 year asset delivering affordable, carbon-free energy to the state, which Oglethorpe Power recognized in statements to the Georgia Public Service Commission less than a year ago. The project will be canceled to the detriment of the citizens of Georgia if Oglethorpe Power does not vote to move forward under the current ownership structure. "Last year, all four of the project co-owners presented a unified recommendation to the PSC to continue construction of Vogtle 3 & 4 following Westinghouse's bankruptcy in 2017. At that time, all four of the project co-owners considered their own costs and fully acknowledged and accepted possible risks associated with continuing construction. This understanding was reaffirmed again last year when all four co-owners voted to continue construction. Despite this, in recent weeks Oglethorpe Power has continued to demand Southern Company shareholders and ultimately Georgia Power customers accept Oglethorpe's risk in the project even though all four co-owners fully understood and voluntarily accepted their own risks when they sought to become an owner at the project's inception. Even though Georgia Power is under no obligation to do so, the company provided several proposals to Oglethorpe Power to help give them additional financial support and certainty for their ratepayers. Instead of taking a long-term view, Oglethorpe Power is using the vote to try to burden others with its obligations and extract unreasonable concessions."