You have reached your limit of free articles this month.

Enjoy unlimited access to myAJC.com

Starting at just 99¢ for 8 weeks.

GREAT REASONS TO SUBSCRIBE TODAY!

  • IN-DEPTH REPORTING
  • INTERACTIVE STORYTELLING
  • NEW TOPICS & COVERAGE
  • ePAPER
X

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

X

Welcome to myAJC.com

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 myAJC.com.

Report: Lawmakers aim to save $800 million tax credit for Plant Vogtle


House lawmakers are pushing legislation that would save federal tax credits from expiring that are worth billions to the Plant Vogtle project and a similar plant in South Carolina, according to a published report.

The proposed legislation, which passed a House Ways and Means Committee vote last week, would extend the tax credit’s current 2021 deadline for the two nuclear projects to be completed, reported E&E News, a utility industry publication.

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 project to add two new nuclear reactors at Plant Vogtle near Augusta.

The South Carolina project’s tax incentives total more than $2 billion. That project is headed by SCANA Corp.

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

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

UPS to add more alternative fuel vehicles to fleet
UPS to add more alternative fuel vehicles to fleet

Sandy Springs-based UPS said it plans to add more alternative fuel vehicles to its fleet. The move comes as e-commerce growth drives up the shipping giant’s use of fuel. UPS, which operates 8,300 alternative fuel and advanced technology vehicles, said its goal by 2020 is for such vehicles to make up one in four of its newly-purchased vehicles...
Big grocery chain 'looking for sites all across’ Georgia
Big grocery chain 'looking for sites all across’ Georgia

Grocery chain Lidl has announced plans to open a distribution center in Cartersville and create 250 jobs, suggesting that opening its first stores in Georgia are coming. That means fresh competition for shoppers loyal to chains such as Kroger, Publix, Wal-Mart, Ingles and Aldi. “Georgia is absolutely a focus for us,” company...
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...
More Stories