Vogtle Nuclear Power Plant Units 3-4
In 2008, as GPC was embarking on the development of Units 3 and 4 at the Vogtle Nuclear Site, representing the first new nuclear build in the U.S. in over 30 years, Pegasus-Global was retained as part of a broader team of experts to perform an independent evaluation of GPC’s proposal to construction these new nuclear units. This evaluation included a review of the EPC agreement entered into by GPC to support development of Units 3 and 4, which focused on the reasonableness of the agreement and the allocation of risks in relation to other large capital projects. This independent review is publicly filed with the Georgia Public Service Commission (GPSC) in Docket # 27800 in support of the Company’s CPCN application.
In 2011, Pegasus-Global provided testimony in opposition to a proposed risk sharing mechanism and elaborate on the concepts of risk and risk sharing applicable to megaprojects, including specifically the Vogtle Project. This testimony is publicly filed with the GPSC in Docket # 29849.
As Vogtle Units 3 and 4 were nearing completion in 2023, Pegasus-Global was again retained to provide a prudence review and assessment on the execution of these new nuclear units. The project experienced extensive cost and schedule growth from the original estimates, with costs increasing from $14 billion to over $30 billion across 11 years of execution. The prudence review examined the specific issues and challenges faced during the project’s execution, which notably included the bankruptcy of the original EPC partner and restarting the domestic nuclear industry after decades of dormancy. Pegasus-Global’s review culminated with testimony provided as part of the Company’s rate application for Units 3 & 4 and is publicly filed with the GPSC in Docket # 29849.
Client: Georgia Power Company (GPC) & Southern Company
