You have reached your limit of free articles this month.

Enjoy unlimited access to

Starting at just 99¢ for 8 weeks.


  • ePAPER

You have read of premium articles.

Get unlimited access to all of our breaking news, in-depth coverage and bonus content- exclusively for subscribers. Starting at just 99¢ for 8 weeks


Welcome to

This subscriber-only site gives you exclusive access to breaking news, in-depth coverage, exclusive interactives and bonus content.

You can read free articles of your choice a month that are only available on

Lawmakers aim to save $800M tax credit for Plant Vogtle

House lawmakers are pushing legislation that would keep alive federal tax credits worth billions to the Plant Vogtle project and a similar plant in South Carolina.

A resolution passed last week in the House Ways and Means Committee would remove the tax credit’s current deadline requiring the two nuclear projects to be completed by 2021.

That extension could help preserve $800 million worth of tax credits that Georgia Power has been counting on to help lower the cost of the Vogtle project, which includes construction of two new reactors at the plant near Augusta.

The South Carolina project’s tax incentives total more than $2 billion, according to E&E News, a utility industry trade publication. That project is headed by SCANA Corp.

The resolution is expected to be voted on by the full House as soon as Tuesday, according to a House aide. The Senate also would have to approve.

The legislation could help clear the path to continued work on the two half-built nuclear projects, which were thrown into upheaval by the March bankruptcy of key contractor Westinghouse Electric.

The resolution would also allow non-profit partners in the two projects, which don’t pay federal taxes, to take advantage of the tax credits by selling them to for-profit project partners.

The resolution, H.R. 1551, lists several types of “eligible project partner” firms that would be allowed to take advantage of the credits, including for-profit owners, construction and nuclear design firms, suppliers of nuclear fuel, and suppliers of steam power-generation systems.

The Plant Vogtle expansion is about 46 percent owned by Georgia Power, while Oglethorpe Power, MEAG and the City of Dalton, all non-profits, own the rest.

Earlier this month Georgia Power also reached agreements with Westinghouse and its parent company, Toshiba Corp., that helped preserve a guarantee worth billions of dollars to the project.

Georgia Power has been studying whether to go forward with the Vogtle project in the wake of Westinghouse’s bankruptcy, which it has acknowledged will lead to more delays beyond its earlier projections to finish by the end of 2020.

As it is, the Vogtle project is already over $3 billion over budget and more than three years behind its original schedule.

Reader Comments ...

Next Up in Business

The questions all landlords should ask

The vast majority of rental problems can be eliminated in advance through a good screening process. Many amateur landlords are so desperate for a tenant that they accept the first applicant who walks in the door. That is a rental nightmare waiting to happen. When screening any applicant, remember to be consistent - treat all potential renters the same...
New Atlanta Fed president sees lighter burden for small banks
New Atlanta Fed president sees lighter burden for small banks

Banks — especially the smaller ones — can probably expect a lighter touch from regulators in the future, but not in areas that would weaken protections against another industry meltdown, according to the Atlanta Federal Reserve Bank’s new president. Earlier this month the U.S. Treasury Department unveiled a nearly 150-page report...
Couple gets engaged on Delta flight
Couple gets engaged on Delta flight

A Delta Air Lines plane at 30,000 feet became the scene for a carefully-orchestrated engagement this week. Flights were already part of the couple’s long-distance relationship stretched between Atlanta and Pennsylvania — Deepum Patel works in Atlanta while girlfriend Neha Chakravarti has been in dental school in Pennsylvania. During a Wednesday...
Georgia sees huge drop in people on food stamps
Georgia sees huge drop in people on food stamps

Georgia is seeing a significant decrease in the number of people receiving food stamps as the improving economy lifts many recipients into new jobs and frees them from the fear of going hungry. The number of Georgians getting food stamps has dropped by 300,000 from 1.9 million in April 2013 to 1.6 million. That decrease of 16 percent in the federally...
Record number of travelers expected over July 4th weekend
Record number of travelers expected over July 4th weekend

A record number of people are expected to travel over the 4th of July holiday weekend, according to AAA. A total of 44.2 million Americans are forecast to take trips over the period running from June 30 to July 4. In Georgia, 1.3 million people will travel for the holiday, AAA says. Most of them will be driving. But 3.4 million across the country are...
More Stories