/PRNewswire/ -- Georgia Power today (October 5) received approval from the Georgia Public Service Commission (PSC) for a new tariff that will nearly double the amount of solar energy the company purchases to supply its Green Energy Program.
The Solar Purchase Tariff will allow Georgia Power to purchase an additional 1.5 megawatts (MW) of solar capacity from customers at 17 cents per kilowatt-hour (kWh) for generating facilities designed to produce less than 100 kilowatts. Customers who sell solar under the new tariff must agree to share all cost and operational information with Georgia Power so that the company can gain experience in solar electricity generation.
The company will also issue a request for proposals (RFP) for an additional 1 MW of solar capacity with no project size restriction. Georgia Power will consider solar proposals in this RFP with a price of 15 cents per kWh or less.
Georgia Power will use this solar energy to supply the Premium Green Energy product. Customers can purchase 100-kilowatt-hour blocks of Premium Green Energy with a 50 percent solar component for $5 per block or Standard Green Energy, generated from biomass sources, for $3.50 per block.
Since Georgia Power began the Green Energy program in October 2006, nearly 4,200 customers have committed to purchase approximately 3.8 million kilowatt-hours of green energy, or enough electricity to power approximately 3,800 homes using 1,000 kilowatt-hours a month.
"Since we began offering customers a 50 percent solar option, we've added almost 1,000 new blocks of the Premium Green Energy product to the program," said Angela Strickland, director of Energy Efficiency. "By increasing our solar capacity in the program to 5.4 MW, we hope to keep pace with the significant growth of solar purchases by our customers both now and in the future."
Georgia Power will continue to offer its Renewable-Non Renewable Resources (RNR) tariff to customers who use their solar facilities to either offset their electricity bill or who sell the power back to Georgia Power at the company's solar avoided cost.
Georgia Power's Solar Purchase Tariff and revised RNR tariff will go into effect Jan. 1, 2011.
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Showing posts with label alternative energy. Show all posts
Showing posts with label alternative energy. Show all posts
Wednesday, October 6, 2010
Tuesday, August 10, 2010
Lawsuit: Department of Energy Hiding Risk of $8.33 Billion Taxpayer-Backed Loan Guarantee for Proposed Georgia Nuclear Reactors
/PRNewswire-/ -- U.S. taxpayers are being denied timely access to information that could be used to assess the risk to their pocketbooks posed by the controversial $8.33 billion federal loan guarantee for two proposed nuclear reactors at Southern Company's Plant Vogtle in Georgia, according to a lawsuit filed yesterday by the Southern Alliance for Clean Energy (SACE). Despite the fact that the President announced the Vogtle taxpayer-financed loan guarantee on February 16, 2010 amid much fanfare, all meaningful details of the deal have remained shrouded in secrecy.
In announcing its lawsuit against the U.S. Department of Energy (DOE), SACE was joined today by Taxpayers for Common Sense (TCS). Although not a party to the lawsuit, TCS shares similar concerns about the secrecy in the DOE loan guarantee program.
SACE filed the lawsuit because of DOE's failure to comply with a Freedom of Information Act (FOIA) request filed on March 25, 2010. Under FOIA, DOE was obliged to respond to the SACE request by April 22 - well in advance of when DOE and Southern finalized the loan guarantee deal on June 11, 2010. However, DOE released no documents to SACE until July 6, 2010. When DOE finally released a handful of documents relating to the Vogtle loan guarantees, they were heavily redacted, with all important details blacked out, including one that was censored 244 times with half a dozen pages nearly or entirely obscured. (To see one of the DOE-censored documents, go to http://www.cleanenergy.org/index.php?/Reports-and-Publications.html on the Web.)
The clear foot dragging and improper handling by DOE of the SACE FOIA request provide the latest proof of the validity of the criticisms set out in the July 12, 2010 U.S. Government Accountability Office report, "Further Actions Are Needed to Improve DOE's Ability to Evaluate and Implement the Loan Guarantee Program." (See http://www.gao.gov/products/GAO-10-627.) The GAO found that the program is inadequately planned and executed, lacks objective performance goals, and provides preferential treatment to nuclear loan guarantee applications over other types of applications.
Stephen Smith, executive director, Southern Alliance for Clean Energy, said: "This is too large a sum of taxpayer's money, being spent on too risky a project for there to be this much cover-up and secrecy. This is the first award of what could be tens of billions of dollars more in new federal subsidies for the nuclear industry - setting the precedent of hiding the financial ball from the public in round one is a bad start. We need openness and transparency. Obama's Department of Energy, Southern Company and the public power companies which are part of this cover-up need to set the record straight and tell the truth about what is going on here; that they are socializing the risk and privatizing the profits for big power companies."
Ryan Alexander, president, Taxpayers for Common Sense, said: "DOE is hiding critical information behind their back with the one hand while they have their other hand out asking for billions more in loan guarantees. They already have the authority to give out more than $18 billion for nuclear reactors and still have yet to provide any assurances that these projects are smart investments. In fact, all the evidence points to taxpayers losing big on reactors like the Vogtle project. This is unacceptable and DOE must come clean and start fully answering these information requests or lawmakers should stop the program."
Larry Sanders, acting director of the Turner Environmental Law Clinic at Emory University School of Law, and an attorney for SACE, said: "In the Freedom of Information Act, Congress provided citizens a right to timely access to federal agency records. In this case, Southern Company and its partners have been awarded loan guarantees that could end up costing the federal treasury billions of dollars. Yet, in violation of the law, DOE refuses to allow public scrutiny of this subsidy to the nuclear energy industry. With billions of taxpayer dollars on the line, SACE had no choice but to file this lawsuit to force DOE to disgorge records related to the Plant Vogtle loan guarantees."
The March 25, 2010 SACE FOIA request covered such items as: the Southern Company loan guarantee; related correspondence between DOE and Southern Nuclear Operating Company, Georgia Power Company, Oglethorpe Power Corporation, Municipal Authority of Georgia, and the City of Dalton, Georgia; environmental review records related to the loan guarantee request; any credit analysis conducted by DOE in relation to the loan guarantee; all records related to the general terms and conditions of the loan guarantee; and all records related to issuance of the loan guarantee.
Of the seven areas addressed in the SACE FOIA request, DOE has failed entirely to respond to five items. DOE's partial response to two items in the request yielded only five responsive documents, months after the FOIA deadline. Most documents responsive to SACE's request remain hidden from public view. Even where the tardy responses were provided, the documents were so highly redacted as to make them largely or entirely meaningless.
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In announcing its lawsuit against the U.S. Department of Energy (DOE), SACE was joined today by Taxpayers for Common Sense (TCS). Although not a party to the lawsuit, TCS shares similar concerns about the secrecy in the DOE loan guarantee program.
SACE filed the lawsuit because of DOE's failure to comply with a Freedom of Information Act (FOIA) request filed on March 25, 2010. Under FOIA, DOE was obliged to respond to the SACE request by April 22 - well in advance of when DOE and Southern finalized the loan guarantee deal on June 11, 2010. However, DOE released no documents to SACE until July 6, 2010. When DOE finally released a handful of documents relating to the Vogtle loan guarantees, they were heavily redacted, with all important details blacked out, including one that was censored 244 times with half a dozen pages nearly or entirely obscured. (To see one of the DOE-censored documents, go to http://www.cleanenergy.org/index.php?/Reports-and-Publications.html on the Web.)
The clear foot dragging and improper handling by DOE of the SACE FOIA request provide the latest proof of the validity of the criticisms set out in the July 12, 2010 U.S. Government Accountability Office report, "Further Actions Are Needed to Improve DOE's Ability to Evaluate and Implement the Loan Guarantee Program." (See http://www.gao.gov/products/GAO-10-627.) The GAO found that the program is inadequately planned and executed, lacks objective performance goals, and provides preferential treatment to nuclear loan guarantee applications over other types of applications.
Stephen Smith, executive director, Southern Alliance for Clean Energy, said: "This is too large a sum of taxpayer's money, being spent on too risky a project for there to be this much cover-up and secrecy. This is the first award of what could be tens of billions of dollars more in new federal subsidies for the nuclear industry - setting the precedent of hiding the financial ball from the public in round one is a bad start. We need openness and transparency. Obama's Department of Energy, Southern Company and the public power companies which are part of this cover-up need to set the record straight and tell the truth about what is going on here; that they are socializing the risk and privatizing the profits for big power companies."
Ryan Alexander, president, Taxpayers for Common Sense, said: "DOE is hiding critical information behind their back with the one hand while they have their other hand out asking for billions more in loan guarantees. They already have the authority to give out more than $18 billion for nuclear reactors and still have yet to provide any assurances that these projects are smart investments. In fact, all the evidence points to taxpayers losing big on reactors like the Vogtle project. This is unacceptable and DOE must come clean and start fully answering these information requests or lawmakers should stop the program."
Larry Sanders, acting director of the Turner Environmental Law Clinic at Emory University School of Law, and an attorney for SACE, said: "In the Freedom of Information Act, Congress provided citizens a right to timely access to federal agency records. In this case, Southern Company and its partners have been awarded loan guarantees that could end up costing the federal treasury billions of dollars. Yet, in violation of the law, DOE refuses to allow public scrutiny of this subsidy to the nuclear energy industry. With billions of taxpayer dollars on the line, SACE had no choice but to file this lawsuit to force DOE to disgorge records related to the Plant Vogtle loan guarantees."
The March 25, 2010 SACE FOIA request covered such items as: the Southern Company loan guarantee; related correspondence between DOE and Southern Nuclear Operating Company, Georgia Power Company, Oglethorpe Power Corporation, Municipal Authority of Georgia, and the City of Dalton, Georgia; environmental review records related to the loan guarantee request; any credit analysis conducted by DOE in relation to the loan guarantee; all records related to the general terms and conditions of the loan guarantee; and all records related to issuance of the loan guarantee.
Of the seven areas addressed in the SACE FOIA request, DOE has failed entirely to respond to five items. DOE's partial response to two items in the request yielded only five responsive documents, months after the FOIA deadline. Most documents responsive to SACE's request remain hidden from public view. Even where the tardy responses were provided, the documents were so highly redacted as to make them largely or entirely meaningless.
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Monday, April 12, 2010
Sugarcane Ethanol Offers Clean, Affordable & Secure Alternative Energy
/PRNewswire/ -- As Earth Day approaches and Americans seek out environmentally friendly energy sources, the Brazilian Sugarcane Industry Association (UNICA) today launched an expansive national awareness campaign to explain sugarcane ethanol's benefits. UNICA's education campaign will include a new website, SweeterAlternative.com, online, print and radio advertising, new research and a high-profile partnership with the Indy Racing League.
"We hope the Sweeter Alternative campaign will help Americans understand how sugarcane ethanol is a clean and affordable renewable fuel that could help them save money at the pump, cut U.S. dependence on Middle East oil and improve the environment," said UNICA's Chief Representative in North America, Joel Velasco.
Sugarcane ethanol is a renewable fuel produced from sugarcane, which is grown in the United States, Brazil and more than 100 countries. Like other forms of ethanol, it can be added to gasoline and used in all American vehicles at blends up to 10 percent ethanol. The Sweeter Alternative education campaign will highlight three key benefits of sugarcane ethanol:
-- Energy Security. Sugarcane ethanol is one more good option for
diversifying energy supplies and improving U.S. energy security, so
Americans are not reliant on any one source or country.
-- Economic. Americans could save about a dollar per fill-up off the
price of regular gasoline by expanding the use of sugarcane ethanol.
At an average price of $0.50 less per gallon than corn ethanol,
sugarcane ethanol is one of the least expensive renewable fuels
available.
-- Environmental. Sugarcane ethanol cuts greenhouse gases by at least 60
percent compared to gasoline - better than any other biofuel widely
produced today. The Environmental Protection Agency confirmed
sugarcane ethanol's superior environmental performance earlier this
year by designating it an "advanced renewable fuel." This important
category of biofuels will make up 21 billion gallons of America's fuel
supply by 2020, or about 15 percent of today's gasoline market.
Most sugarcane ethanol is currently produced in Brazil, a South American country with a democratically elected government and a long-standing trade relationship with the United States. Brazil has replaced more than half of its gasoline needs with sugarcane ethanol - making gasoline the alternative fuel in that country. Many observers point to Brazil's experience as a case study for other nations seeking to expand the use of renewable fuels.
"Unfortunately, Americans cannot fully benefit from this clean, less expensive alternative while Congress continues to maintain trade barriers against imported ethanol," Velasco continued.
The U.S. government currently imposes a $0.54-per-gallon tariff on ethanol from most foreign countries, making sugarcane ethanol practically unavailable in the United States. By contrast, imported oil enters America duty free. The 54-cent import tax on ethanol will expire at the end of this year.
Last week, Brazil took an important first step to build an open and global biofuels marketplace by eliminating its tariff on imported ethanol through the end of 2011. UNICA is asking the Brazilian government to make the tariff elimination permanent if Congress will do the same and drop the U.S. tax on imported ethanol.
"Consumers win when businesses have to compete in an open market, because competition produces higher quality products at lower costs. The same principle holds true for the renewable fuels market where competition will create a race to the future and generate better alternatives for consumers. Americans will benefit from having the sweeter alternative - sugarcane ethanol - available as an option at the pump," Velasco concluded.
The Brazilian Sugarcane Industry Association (UNICA) is the leading trade association for the sugarcane industry in Brazil, representing nearly two-thirds of all sugarcane production and processing in the country. UNICA's priorities include serving as a source for credible information and analysis about the efficiency and sustainability of sugarcane products, particularly its biofuels. The association works to encourage the continuous advancement of sustainable practices throughout the sugarcane industry and to promote biofuels as a clean, reliable alternative to fossil fuels.
-----
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"We hope the Sweeter Alternative campaign will help Americans understand how sugarcane ethanol is a clean and affordable renewable fuel that could help them save money at the pump, cut U.S. dependence on Middle East oil and improve the environment," said UNICA's Chief Representative in North America, Joel Velasco.
Sugarcane ethanol is a renewable fuel produced from sugarcane, which is grown in the United States, Brazil and more than 100 countries. Like other forms of ethanol, it can be added to gasoline and used in all American vehicles at blends up to 10 percent ethanol. The Sweeter Alternative education campaign will highlight three key benefits of sugarcane ethanol:
-- Energy Security. Sugarcane ethanol is one more good option for
diversifying energy supplies and improving U.S. energy security, so
Americans are not reliant on any one source or country.
-- Economic. Americans could save about a dollar per fill-up off the
price of regular gasoline by expanding the use of sugarcane ethanol.
At an average price of $0.50 less per gallon than corn ethanol,
sugarcane ethanol is one of the least expensive renewable fuels
available.
-- Environmental. Sugarcane ethanol cuts greenhouse gases by at least 60
percent compared to gasoline - better than any other biofuel widely
produced today. The Environmental Protection Agency confirmed
sugarcane ethanol's superior environmental performance earlier this
year by designating it an "advanced renewable fuel." This important
category of biofuels will make up 21 billion gallons of America's fuel
supply by 2020, or about 15 percent of today's gasoline market.
Most sugarcane ethanol is currently produced in Brazil, a South American country with a democratically elected government and a long-standing trade relationship with the United States. Brazil has replaced more than half of its gasoline needs with sugarcane ethanol - making gasoline the alternative fuel in that country. Many observers point to Brazil's experience as a case study for other nations seeking to expand the use of renewable fuels.
"Unfortunately, Americans cannot fully benefit from this clean, less expensive alternative while Congress continues to maintain trade barriers against imported ethanol," Velasco continued.
The U.S. government currently imposes a $0.54-per-gallon tariff on ethanol from most foreign countries, making sugarcane ethanol practically unavailable in the United States. By contrast, imported oil enters America duty free. The 54-cent import tax on ethanol will expire at the end of this year.
Last week, Brazil took an important first step to build an open and global biofuels marketplace by eliminating its tariff on imported ethanol through the end of 2011. UNICA is asking the Brazilian government to make the tariff elimination permanent if Congress will do the same and drop the U.S. tax on imported ethanol.
"Consumers win when businesses have to compete in an open market, because competition produces higher quality products at lower costs. The same principle holds true for the renewable fuels market where competition will create a race to the future and generate better alternatives for consumers. Americans will benefit from having the sweeter alternative - sugarcane ethanol - available as an option at the pump," Velasco concluded.
The Brazilian Sugarcane Industry Association (UNICA) is the leading trade association for the sugarcane industry in Brazil, representing nearly two-thirds of all sugarcane production and processing in the country. UNICA's priorities include serving as a source for credible information and analysis about the efficiency and sustainability of sugarcane products, particularly its biofuels. The association works to encourage the continuous advancement of sustainable practices throughout the sugarcane industry and to promote biofuels as a clean, reliable alternative to fossil fuels.
-----
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Wednesday, February 17, 2010
Southern Company Receives DOE Support for Nation's First Nuclear Units in 30 Years
/PRNewswire/ -- Southern Company announced Tuesday that the U.S. Department of Energy (DOE) has offered its subsidiary Georgia Power a conditional commitment for loan guarantees for the construction of the nation's first nuclear power units in more than 30 years, a move designed to help spur a renaissance in America's nuclear industry.
"We are honored by the administration's confidence in our ability to build the nation's first new nuclear power plant in more than three decades," said Southern Company CEO David Ratcliffe, following an event at which President Obama and Secretary of Energy Steven Chu announced the award. "It's an important endorsement in the role nuclear power must play in diversifying our nation's energy mix and helping to curb greenhouse gas emissions."
President Obama and Secretary Chu announced the commitment for the loan guarantees at a news conference held at the International Brotherhood of Electrical Workers Local 26 in Lanham, Md. Ratcliffe was joined at the event by Georgia Power CEO Mike Garrett, Southern Company COO Tom Fanning, Southern Nuclear CEO Jim Miller and Southern Company Executive Vice President Chris Womack.
The new units will be located at Plant Vogtle near Waynesboro, Ga., where the company already owns and operates two nuclear units. The conditional commitment is for loan guarantees that would apply to future borrowings related to the construction of Vogtle units 3 and 4.
Total guaranteed borrowings would not exceed 70 percent of the company's eligible projected costs, or approximately $3.4 billion, and are expected to be funded by the Federal Financing Bank. Any guaranteed borrowings would be full recourse to Georgia Power and secured by a first priority lien on the company's 45.7 percent ownership interest in the two new units.
Ratcliffe added that loan guarantees would serve as a catalyst to accelerate the construction of new nuclear plants and other clean energy sources while adding jobs and aiding the economy. The additions of units 3 and 4 are expected to produce approximately 3,500 jobs during construction and an additional 800 permanent jobs once the units begin operation.
Georgia Power has 90 days to accept the conditional commitment, including obtaining any necessary regulatory approvals. The company will work with the DOE to finalize the loan guarantees. Final approval and issuance of the loan guarantees are subject to receipt of the Combined Operating License (COL) from the U.S. Nuclear Regulatory Commission (NRC), completion of final agreements, the receipt of any other required regulatory approvals and satisfaction of other conditions. The company received an early site permit from the NRC for the two additional units in 2009, and preliminary site work has begun.
Along with Georgia Power's portion of the two 1,100-megawatt reactors, the remaining ownership is split among Oglethorpe Power Corporation, the Municipal Electric Authority of Georgia (MEAG Power) and Dalton Utilities. Total cost of the new units is currently projected to be approximately $14 billion. Georgia Power's share is currently projected at approximately $6.1 billion, which includes approximately $1.7 billion of financing costs to be collected during construction.
Units 3 and 4 are expected to begin commercial operation in 2016 and 2017, respectively. Southern Nuclear, a subsidiary of Southern Company, will oversee the construction as well as operate the two new units for Georgia Power and the other owners. Southern Nuclear currently operates Plant Vogtle's two existing nuclear power units as well as Georgia Power's Plant Hatch nuclear facility near Baxley, Ga., and Alabama Power's Plant Farley nuclear facility near Dothan, Ala.
Georgia Power is the largest subsidiary of Southern Company, one of the nation's largest generators of electricity. The company is an investor-owned, tax-paying utility with rates well below the national average. Georgia Power serves 2.3 million customers in all but four of Georgia's 159 counties.
With 4.4 million customers and more than 42,000 megawatts of generating capacity, Atlanta-based Southern Company (NYSE:SO) is the premier energy company serving the Southeast. A leading U.S. producer of electricity, Southern Company owns electric utilities in four states and a growing competitive generation company, as well as fiber optics and wireless communications. Southern Company brands are known for excellent customer service, high reliability and retail electric prices below the national average. Southern Company is consistently listed among the top U.S. electric service providers in customer satisfaction by the American Customer Satisfaction Index (ACSI). Visit our Web site at www.southerncompany.com.
Cautionary Note Regarding Forward-Looking Statements:
Certain information contained in this release is forward-looking information based on current expectations and plans that involve risks and uncertainties. Forward-looking information includes, among other things, statements concerning the conditional commitment and DOE loan guarantees, estimated cost savings from DOE loan guarantees, and projected costs of construction and in service dates for Vogtle units 3 and 4. Southern Company and Georgia Power caution that there are certain factors that can cause actual results to differ materially from the forward-looking information that has been provided. The reader is cautioned not to put undue reliance on this forward-looking information, which is not a guarantee of future performance and is subject to a number of uncertainties and other factors, many of which are outside the control of Southern Company and Georgia Power; accordingly, there can be no assurance that such suggested results will be realized. The following factors, in addition to those discussed in the Annual Reports on Form 10-K of Southern Company and Georgia Power for the year ended December 31, 2008, and subsequent securities filings, could cause actual results to differ materially from management expectations as suggested by such forward-looking information: timely receipt of necessary regulatory approvals related to the Plant Vogtle expansion, including Georgia Public Service Commission and Nuclear Regulatory Commission approvals; interest rate fluctuations and financial market conditions, including the credit ratings of Southern Company and Georgia Power; satisfaction of all conditions to the final issuance and approval of DOE loan guarantees, including negotiation of final agreements, continuing due diligence by DOE and receipt of any required regulatory approvals; and the ability to control costs and avoid delays in the construction of Plant Vogtle units 3 and 4, including risks related to shortages and inconsistent quality of equipment, materials and labor, work stoppages, contractor or supplier non-performance under construction or other agreements, adverse weather conditions, unforeseen engineering problems, changes in project design or scope, environmental and geological conditions, and unanticipated cost increases. Southern Company and Georgia Power expressly disclaim any obligation to update any forward-looking information.
-----
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"We are honored by the administration's confidence in our ability to build the nation's first new nuclear power plant in more than three decades," said Southern Company CEO David Ratcliffe, following an event at which President Obama and Secretary of Energy Steven Chu announced the award. "It's an important endorsement in the role nuclear power must play in diversifying our nation's energy mix and helping to curb greenhouse gas emissions."
President Obama and Secretary Chu announced the commitment for the loan guarantees at a news conference held at the International Brotherhood of Electrical Workers Local 26 in Lanham, Md. Ratcliffe was joined at the event by Georgia Power CEO Mike Garrett, Southern Company COO Tom Fanning, Southern Nuclear CEO Jim Miller and Southern Company Executive Vice President Chris Womack.
The new units will be located at Plant Vogtle near Waynesboro, Ga., where the company already owns and operates two nuclear units. The conditional commitment is for loan guarantees that would apply to future borrowings related to the construction of Vogtle units 3 and 4.
Total guaranteed borrowings would not exceed 70 percent of the company's eligible projected costs, or approximately $3.4 billion, and are expected to be funded by the Federal Financing Bank. Any guaranteed borrowings would be full recourse to Georgia Power and secured by a first priority lien on the company's 45.7 percent ownership interest in the two new units.
Ratcliffe added that loan guarantees would serve as a catalyst to accelerate the construction of new nuclear plants and other clean energy sources while adding jobs and aiding the economy. The additions of units 3 and 4 are expected to produce approximately 3,500 jobs during construction and an additional 800 permanent jobs once the units begin operation.
Georgia Power has 90 days to accept the conditional commitment, including obtaining any necessary regulatory approvals. The company will work with the DOE to finalize the loan guarantees. Final approval and issuance of the loan guarantees are subject to receipt of the Combined Operating License (COL) from the U.S. Nuclear Regulatory Commission (NRC), completion of final agreements, the receipt of any other required regulatory approvals and satisfaction of other conditions. The company received an early site permit from the NRC for the two additional units in 2009, and preliminary site work has begun.
Along with Georgia Power's portion of the two 1,100-megawatt reactors, the remaining ownership is split among Oglethorpe Power Corporation, the Municipal Electric Authority of Georgia (MEAG Power) and Dalton Utilities. Total cost of the new units is currently projected to be approximately $14 billion. Georgia Power's share is currently projected at approximately $6.1 billion, which includes approximately $1.7 billion of financing costs to be collected during construction.
Units 3 and 4 are expected to begin commercial operation in 2016 and 2017, respectively. Southern Nuclear, a subsidiary of Southern Company, will oversee the construction as well as operate the two new units for Georgia Power and the other owners. Southern Nuclear currently operates Plant Vogtle's two existing nuclear power units as well as Georgia Power's Plant Hatch nuclear facility near Baxley, Ga., and Alabama Power's Plant Farley nuclear facility near Dothan, Ala.
Georgia Power is the largest subsidiary of Southern Company, one of the nation's largest generators of electricity. The company is an investor-owned, tax-paying utility with rates well below the national average. Georgia Power serves 2.3 million customers in all but four of Georgia's 159 counties.
With 4.4 million customers and more than 42,000 megawatts of generating capacity, Atlanta-based Southern Company (NYSE:SO) is the premier energy company serving the Southeast. A leading U.S. producer of electricity, Southern Company owns electric utilities in four states and a growing competitive generation company, as well as fiber optics and wireless communications. Southern Company brands are known for excellent customer service, high reliability and retail electric prices below the national average. Southern Company is consistently listed among the top U.S. electric service providers in customer satisfaction by the American Customer Satisfaction Index (ACSI). Visit our Web site at www.southerncompany.com.
Cautionary Note Regarding Forward-Looking Statements:
Certain information contained in this release is forward-looking information based on current expectations and plans that involve risks and uncertainties. Forward-looking information includes, among other things, statements concerning the conditional commitment and DOE loan guarantees, estimated cost savings from DOE loan guarantees, and projected costs of construction and in service dates for Vogtle units 3 and 4. Southern Company and Georgia Power caution that there are certain factors that can cause actual results to differ materially from the forward-looking information that has been provided. The reader is cautioned not to put undue reliance on this forward-looking information, which is not a guarantee of future performance and is subject to a number of uncertainties and other factors, many of which are outside the control of Southern Company and Georgia Power; accordingly, there can be no assurance that such suggested results will be realized. The following factors, in addition to those discussed in the Annual Reports on Form 10-K of Southern Company and Georgia Power for the year ended December 31, 2008, and subsequent securities filings, could cause actual results to differ materially from management expectations as suggested by such forward-looking information: timely receipt of necessary regulatory approvals related to the Plant Vogtle expansion, including Georgia Public Service Commission and Nuclear Regulatory Commission approvals; interest rate fluctuations and financial market conditions, including the credit ratings of Southern Company and Georgia Power; satisfaction of all conditions to the final issuance and approval of DOE loan guarantees, including negotiation of final agreements, continuing due diligence by DOE and receipt of any required regulatory approvals; and the ability to control costs and avoid delays in the construction of Plant Vogtle units 3 and 4, including risks related to shortages and inconsistent quality of equipment, materials and labor, work stoppages, contractor or supplier non-performance under construction or other agreements, adverse weather conditions, unforeseen engineering problems, changes in project design or scope, environmental and geological conditions, and unanticipated cost increases. Southern Company and Georgia Power expressly disclaim any obligation to update any forward-looking information.
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Tuesday, December 29, 2009
American energy security could come from trees
(ARA) - You don't have to be an energy expert to realize the challenge ahead if the country is to reach President Obama's goal of reducing 50 percent of America's fossil fuel emissions by 2050. To do that will require several innovative approaches to generating fuel and electricity.
One alternative is to use plant or tree materials, also known as biomass, as an energy source. Biomass trees could be specifically planted for use as bioenergy in regions where available land is well-suited to tree growth and harvest. Although many different types of crops can be used as biomass, trees have particular advantages, including the ability to be harvested year-round. In the Southeast, where the infrastructure to harvest and transport trees to the mill already exists, biomass production could help reinvigorate rural economies.
In addition to poplar, pine and cottonwood, another variety of tree being evaluated for its amazing growth potential is the eucalyptus. One of the fastest growing hardwood trees in the world, eucalyptus is cultivated in more than 90 countries and represents 8 percent of all planted forests. In 2003, global eucalyptus pulp demand was 8 million tons and it represented 40 percent of the world's hardwood pulp market.
"In order to slow climate change, reduce our country's dependence on foreign oil and slash fossil fuel emissions in half by 2050, we must learn how to use regional, purpose-grown resources for bioenergy in a sustainable and environmentally friendly way," says Barbara Wells, CEO of ArborGen, a leading tree research and development company. "Purpose-grown resources, including trees, are the most ideal feedstock for biomass. A purpose-grown tree is specifically planted to be harvested for wood, fiber and energy production, thereby taking the pressure off our natural resources and forests."
For more than 50 years, U.S. pulp and paper companies and government organizations have invested resources and devoted research to identifying the most economically and environmentally sustainable hardwood species. South Carolina-based ArborGen develops seedlings, both through conventional breeding and selection as well as through biotechnology, that improve the productivity and sustainability of well managed, working forests to help meet the needs for wood, fiber and energy. ArborGen's research supports eucalyptus as a top choice for wood, fiber and energy for numerous reasons. Eucalpytus:
* ... is the world's most widely planted hardwood species.
* ... is prized globally for excellence in paper and energy production
* ... grows faster than other hardwood species.
* ... will grow on upland landscapes, reducing pressure on environmentally sensitive areas.
* ... grows commercially with similar management inputs needed for pine.
* ... produces feedstock for fiber and energy in short rotations.
* ... can be well-contained in a managed plantation environment.
The United States contributes a disproportionate amount, 22 percent, of the world's carbon emissions, even though the country houses just 5 percent of the world's population. According to the U.S. Department of Energy, bioenergy provides the country with a major opportunity to generate power from both renewable and sustainable sources like plants and trees, reducing the amount of carbon emissions. The energy department has specifically identified eucalyptus as a potentially viable option for biomass because of "its implications for helping wean the nation's dependence on fossil fuel."
As such, the federal government is currently spending millions of dollars to map the DNA sequence of the eucalyptus - bringing in expert partners on eucalyptus and biotechnology such as ArborGen to help fulfill this mission.
"We want to help create a viable solution to the increasing energy demands at a time when our traditional supply is being depleted," says Wells. "The time for this solution is now, and we continue to examine and test the effectiveness of trees, including the eucalyptus, as a purpose grown source for energy biomass."
For more information on the benefits of Eucalyptus visit www.eucalyptusfacts.org.
Courtesy of ARAcontent
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One alternative is to use plant or tree materials, also known as biomass, as an energy source. Biomass trees could be specifically planted for use as bioenergy in regions where available land is well-suited to tree growth and harvest. Although many different types of crops can be used as biomass, trees have particular advantages, including the ability to be harvested year-round. In the Southeast, where the infrastructure to harvest and transport trees to the mill already exists, biomass production could help reinvigorate rural economies.
In addition to poplar, pine and cottonwood, another variety of tree being evaluated for its amazing growth potential is the eucalyptus. One of the fastest growing hardwood trees in the world, eucalyptus is cultivated in more than 90 countries and represents 8 percent of all planted forests. In 2003, global eucalyptus pulp demand was 8 million tons and it represented 40 percent of the world's hardwood pulp market.
"In order to slow climate change, reduce our country's dependence on foreign oil and slash fossil fuel emissions in half by 2050, we must learn how to use regional, purpose-grown resources for bioenergy in a sustainable and environmentally friendly way," says Barbara Wells, CEO of ArborGen, a leading tree research and development company. "Purpose-grown resources, including trees, are the most ideal feedstock for biomass. A purpose-grown tree is specifically planted to be harvested for wood, fiber and energy production, thereby taking the pressure off our natural resources and forests."
For more than 50 years, U.S. pulp and paper companies and government organizations have invested resources and devoted research to identifying the most economically and environmentally sustainable hardwood species. South Carolina-based ArborGen develops seedlings, both through conventional breeding and selection as well as through biotechnology, that improve the productivity and sustainability of well managed, working forests to help meet the needs for wood, fiber and energy. ArborGen's research supports eucalyptus as a top choice for wood, fiber and energy for numerous reasons. Eucalpytus:
* ... is the world's most widely planted hardwood species.
* ... is prized globally for excellence in paper and energy production
* ... grows faster than other hardwood species.
* ... will grow on upland landscapes, reducing pressure on environmentally sensitive areas.
* ... grows commercially with similar management inputs needed for pine.
* ... produces feedstock for fiber and energy in short rotations.
* ... can be well-contained in a managed plantation environment.
The United States contributes a disproportionate amount, 22 percent, of the world's carbon emissions, even though the country houses just 5 percent of the world's population. According to the U.S. Department of Energy, bioenergy provides the country with a major opportunity to generate power from both renewable and sustainable sources like plants and trees, reducing the amount of carbon emissions. The energy department has specifically identified eucalyptus as a potentially viable option for biomass because of "its implications for helping wean the nation's dependence on fossil fuel."
As such, the federal government is currently spending millions of dollars to map the DNA sequence of the eucalyptus - bringing in expert partners on eucalyptus and biotechnology such as ArborGen to help fulfill this mission.
"We want to help create a viable solution to the increasing energy demands at a time when our traditional supply is being depleted," says Wells. "The time for this solution is now, and we continue to examine and test the effectiveness of trees, including the eucalyptus, as a purpose grown source for energy biomass."
For more information on the benefits of Eucalyptus visit www.eucalyptusfacts.org.
Courtesy of ARAcontent
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Tuesday, September 15, 2009
Energy Industry Icon Calls for Lower U.S. Natural Gas Prices; Industry at Record Storage Levels and No Demand Drivers
/PRNewswire/ -- Karl W. Miller, a senior energy executive and institutional investor, today issued the following statement through his advisor VBCC, regarding the fact that U.S. natural gas is at record storage levels and overpriced.
Mr. Miller re-affirms expectations for natural gas to correct to the $2.50 to $2.75 mmbtu price range and will continue getting cheaper, as there will be no sustainable drivers either by natural gas fired electricity generation or industrial demand in the U.S. for the next 6-8 quarters.
The natural gas pipeline companies, master limited partnerships (MLP's) and natural gas producers will suffer substantially reduced earnings during the next 6-8 quarters and are substantially overvalued at the current time.
Oil is dollar based, but has no linkage to the price or demand of natural gas in the U.S.
Mr. Miller retains a sell recommendation on U.S. publicly listed renewable energy companies. He predicts we will see many of these companies, which are reliant upon massive government subsidies, state approval of pass through price increases, and highly levered fail and/or will be purchased at distressed prices.
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Mr. Miller re-affirms expectations for natural gas to correct to the $2.50 to $2.75 mmbtu price range and will continue getting cheaper, as there will be no sustainable drivers either by natural gas fired electricity generation or industrial demand in the U.S. for the next 6-8 quarters.
The natural gas pipeline companies, master limited partnerships (MLP's) and natural gas producers will suffer substantially reduced earnings during the next 6-8 quarters and are substantially overvalued at the current time.
Oil is dollar based, but has no linkage to the price or demand of natural gas in the U.S.
Mr. Miller retains a sell recommendation on U.S. publicly listed renewable energy companies. He predicts we will see many of these companies, which are reliant upon massive government subsidies, state approval of pass through price increases, and highly levered fail and/or will be purchased at distressed prices.
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Tuesday, September 1, 2009
Southern Company Announces New Partner at National Carbon Capture Center
/PRNewswire/ -- Southern Company, the manager and operator of the U.S. Department of Energy's National Carbon Capture Center, announced today that the technology research center has added another partner, NRG Energy, Inc.
Princeton, N.J.-based NRG joins DOE and a group of leading energy companies that are working to develop and test advanced technologies to capture carbon dioxide from coal-based power plants.
The National Carbon Capture Center, located in Wilsonville, Ala., was established earlier this year to work with scientists and technology developers from government, industry and universities who are creating the next generation of enhanced carbon capture technologies.
The center will conduct testing and analyses in a power plant setting, at a size large enough to provide meaningful performance data under real operating conditions to enable scale-up of the technologies.
Other current partners include American Electric Power, Luminant, Arch Coal, Peabody Energy and the Electric Power Research Institute (EPRI). The center expects to add more partners as its work progresses.
"We welcome NRG to the growing partnership at the National Carbon Capture Center," said David Ratcliffe, chairman, president and CEO of Southern Company. "Carbon capture is an important component of the diverse portfolio of technologies our nation must pursue to meet our energy and environmental challenges. NRG's involvement strengthens our effort to develop and deploy these critical solutions."
The National Carbon Capture Center, scheduled to be fully operational in 2010, is expected to be a focal point of national efforts to reduce greenhouse gas emissions through technological innovation.
"As we look to further decarbonize our fleet and push to develop and deploy these advanced technologies on a larger scale, initiatives like the National Carbon Capture Center will bring us closer to meeting the challenges of global climate change and transitioning to an environmentally sustainable energy future," said NRG President and CEO David Crane.
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Princeton, N.J.-based NRG joins DOE and a group of leading energy companies that are working to develop and test advanced technologies to capture carbon dioxide from coal-based power plants.
The National Carbon Capture Center, located in Wilsonville, Ala., was established earlier this year to work with scientists and technology developers from government, industry and universities who are creating the next generation of enhanced carbon capture technologies.
The center will conduct testing and analyses in a power plant setting, at a size large enough to provide meaningful performance data under real operating conditions to enable scale-up of the technologies.
Other current partners include American Electric Power, Luminant, Arch Coal, Peabody Energy and the Electric Power Research Institute (EPRI). The center expects to add more partners as its work progresses.
"We welcome NRG to the growing partnership at the National Carbon Capture Center," said David Ratcliffe, chairman, president and CEO of Southern Company. "Carbon capture is an important component of the diverse portfolio of technologies our nation must pursue to meet our energy and environmental challenges. NRG's involvement strengthens our effort to develop and deploy these critical solutions."
The National Carbon Capture Center, scheduled to be fully operational in 2010, is expected to be a focal point of national efforts to reduce greenhouse gas emissions through technological innovation.
"As we look to further decarbonize our fleet and push to develop and deploy these advanced technologies on a larger scale, initiatives like the National Carbon Capture Center will bring us closer to meeting the challenges of global climate change and transitioning to an environmentally sustainable energy future," said NRG President and CEO David Crane.
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Wednesday, June 24, 2009
Natural Fuels Industries Eyes 'Biomass Rich' Georgia for Production Facility
/PRNewswire / -- VEGA PROMOTIONAL SYSTEMS, INC. (Pink Sheets: VGPR) today announced through its wholly owned subsidiary, Natural Fuels Industries, it is planning to construct a manufacturing facility in the State of Georgia to produce alternative energy from organic waste.
According to a recent Forbes Magazine article entitled "America's Best Places For Alternative Energy," the abundance of biomass in Georgia's Bioenergy Corridor ranks third in the nation as a potential source of renewable energy. The article referenced the amount of privately owned forest in Georgia, more than any other state in the country, as a reason for the state's ranking. Forbes also cited that roughly 50 million tons of the state's own timber ends up in the state's wood-products manufacturing plants every year and the industry returns nearly half of it in the form of primary mill wood debris.
"Georgia's wealth of natural resources combined with our research institutions and a strong business climate create an ideal environment for the development of renewable energy," said Georgia Governor, Sonny Perdue. "We appreciate Forbes' recognition of our ability to develop alternative energy sources."
The proposed Georgia facility would be designed to produce alternative/green energy. When completed, the plant would have the capacity to produce several hundred thousand metric tons of biomass fuel pellets annually. NFI recently announced it has entered into a Letter of Intent to purchase a 20% equity interest in a biomass manufacturing facility currently under construction in MAP Ta PHUT, Thailand.
Biomass or biofuel is material derived from recently living organisms. This includes plants, animals and their by-products. For example, manure, garden waste and crop residues are all sources of biomass. It is a renewable energy source based on the carbon cycle, unlike other natural resources such as petroleum, coal, and nuclear fuels. The use of biomass fuels can therefore contribute to waste management as well as fuel security and help to prevent global warming
NFI's Business Plan calls for manufacturing facilities to be constructed in various locations around the world. The Georgia plant would be the Company's first in the United States and would serve as a model facility for other plants in the U.S. A plant of this size could create approximately 200 jobs.
NFI markets various products including energy efficient pellet fuel made from organic waste bi-products using unique and innovative ideas combined with proven technology. The Company's current expansion includes building manufacturing plants in various international locations that will produce biomass products and bio-diesel products for power generation units. It is estimated that in the next five years the biomass industry will become a $20 billion industry.
Certain statements in this release constitute forward-looking statements or statements which may be deemed or construed to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words "forecast," "project," "intend," "expect" "should," "would," and similar expressions and all statements, which are not historical facts, are intended to identify forward-looking statements. These forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance (finance or operating) or achievements to differ from future results, performance (financing and operating) or achievements expressed or implied by such forward-looking statements.
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According to a recent Forbes Magazine article entitled "America's Best Places For Alternative Energy," the abundance of biomass in Georgia's Bioenergy Corridor ranks third in the nation as a potential source of renewable energy. The article referenced the amount of privately owned forest in Georgia, more than any other state in the country, as a reason for the state's ranking. Forbes also cited that roughly 50 million tons of the state's own timber ends up in the state's wood-products manufacturing plants every year and the industry returns nearly half of it in the form of primary mill wood debris.
"Georgia's wealth of natural resources combined with our research institutions and a strong business climate create an ideal environment for the development of renewable energy," said Georgia Governor, Sonny Perdue. "We appreciate Forbes' recognition of our ability to develop alternative energy sources."
The proposed Georgia facility would be designed to produce alternative/green energy. When completed, the plant would have the capacity to produce several hundred thousand metric tons of biomass fuel pellets annually. NFI recently announced it has entered into a Letter of Intent to purchase a 20% equity interest in a biomass manufacturing facility currently under construction in MAP Ta PHUT, Thailand.
Biomass or biofuel is material derived from recently living organisms. This includes plants, animals and their by-products. For example, manure, garden waste and crop residues are all sources of biomass. It is a renewable energy source based on the carbon cycle, unlike other natural resources such as petroleum, coal, and nuclear fuels. The use of biomass fuels can therefore contribute to waste management as well as fuel security and help to prevent global warming
NFI's Business Plan calls for manufacturing facilities to be constructed in various locations around the world. The Georgia plant would be the Company's first in the United States and would serve as a model facility for other plants in the U.S. A plant of this size could create approximately 200 jobs.
NFI markets various products including energy efficient pellet fuel made from organic waste bi-products using unique and innovative ideas combined with proven technology. The Company's current expansion includes building manufacturing plants in various international locations that will produce biomass products and bio-diesel products for power generation units. It is estimated that in the next five years the biomass industry will become a $20 billion industry.
Certain statements in this release constitute forward-looking statements or statements which may be deemed or construed to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words "forecast," "project," "intend," "expect" "should," "would," and similar expressions and all statements, which are not historical facts, are intended to identify forward-looking statements. These forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance (finance or operating) or achievements to differ from future results, performance (financing and operating) or achievements expressed or implied by such forward-looking statements.
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