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Q: Are any projects over budget right now? A: Yes. The TVA originally approved a $2.5 billion budget to complete a partially built reactor at its Watts Bar plant. It recently approved an additional $1.5 billion to $2 billion in spending to finish the project. Plant Vogtle will likely exceed its $14 billion budget, judging by the latest financial disclosures from the utilities involved. The companies building the plant want utility owners to pay more than $800 million for unexpected expenses related to delays in getting federal approval. A monitor hired by Georgia regulators said the project cannot be built on budget. Q: What about Plant Summer in South Carolina? A: Plant owners SCANA and Santee Cooper have experienced a nearly $670 million increase in construction and ownership costs. But in the most recent estimates, the overall project cost has actually decreased because the owners expect to spend less money on other expenses.
Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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