Register with us today

and in less than 60 seconds continue your access to:Latest news headlinesAnalytical topics and featuresCommodities videos, podcast & blogsSample market prices & dataSpecial reportsSubscriber notes & daily commodity email alerts

Already have an account?

Log in to register

Forgot Password

Please Note: Platts Market Center subscribers can only reset passwords via the Platts Market Center

Enter your Email ID below and we will send you an email with your password.

  • Email Address* Please enter email address.

If you are a premium subscriber, we are unable to send you your password for security reasons. Please contact the Client Services team.

If you are a Platts Market Center subscriber, to reset your password go to the Platts Market Center to reset your password.

In this list
Electric Power

Oglethorpe OKs terms of DOE loan guarantee for Vogtle, says closing likely soon

Oil | Crude Oil | Oil Risk

After underwhelming investors for years, can oil companies boost shareholder returns?

Electric Power

Platts Market Data – Electric Power

Capital Markets | Commodities | Energy | Electric Power | Electric Power Risk | Natural Gas | Banking | Infrastructure | Structured Finance

Global Power Markets Conference, 35th Annual

Coal | Thermal Coal | Electric Power | Renewables | Natural Gas | Natural Gas (North American)

US coal-fired power generation totals 75.6 TWh in November, down 18.7% on year: EIA

Oglethorpe OKs terms of DOE loan guarantee for Vogtle, says closing likely soon


Oglethorpe Power said Thursday that its board of directors has approved the terms of a US Department of Energy loan guarantee for up to 70% of the Georgia electric cooperative group's share of the Plant Vogtle nuclear expansion project, and that an early-winter closing on the deal is almost certain.

Not registered?

Receive daily email alerts, subscriber notes & personalize your experience.

Register Now

"We're almost over the finish line on this one," Betsy Higgins, Oglethorpe's executive vice president and chief financial officer, said of the DOE loan guarantee during a third-quarter conference call with energy analysts. She said there is "still some risk that [the closing] may not happen in December," but that, in Oglethorpe's view, the closing is "not a matter of if, it's a matter of when."

DOE in February 2010 granted Southern Company, Oglethorpe and Municipal Energy Authority of Georgia conditional approval for a total of up to $8.3 billion in federal loan guarantees for the two-unit, 2,234-MW Plant Vogtle expansion project. Since then, the parties have been seeking to work out the specific terms of their individual deals with DOE.

Southern Company's Georgia Power subsidiary owns 45.7% of the expansion project, while Oglethorpe owns 30%, MEAG owns 22.7%, and the municipal utility in Dalton, Georgia, owns 1.6%.

Jeannine Hall, spokeswoman for Southern Company, said Thursday that Southern continues have "constructive dialog" with representatives of DOE and remains "cautiously optimistic" the parties can agree on final terms.

Spokesmen for MEAG did not respond to a request for comment.

--Housley Carr,
--Edited by Jason Lindquist,