Nuclear plant price doubles to $28.5 billion as other owners balk

A large dome is lowered onto a nuclear containment building at the Plant Vogtle nuclear energy facility in Waynesboro, Ga., Friday, March 22, 2019. The cost of two new reactors being built there is now at least $28.5 billion, more than twice the original price tag, with the other owners saying Georgia Power Co. has triggered an agreement requiring Georgia Power to pay more of the costs. (Michael Holahan/The Augusta Chronicle via AP)

The cost of two nuclear reactors being built in Georgia is now $28.5 billion, more than twice the original price tag, and the other owners of Plant Vogtle argue Georgia Power Co. has triggered an agreement requiring Georgia Power to shoulder a larger share of the financial burden.

Atlanta-based Southern Co. announced in its quarterly earnings statement Thursday that Georgia Power's share of the third and fourth nuclear reactors at Plant Vogtle has risen to a total of $12.7 billion, an increase of $264 million. Along with what cooperatives and municipal utilities project, the total cost of Vogtle has now more than doubled the original projection of $14 billion.

Opponents have long warned that overruns would be sky-high. Liz Coyle, executive director of consumer advocacy group Georgia Watch, said the price tag is "outrageous" but also predictable.

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