Georgia on Its Mind

Weeks after the federal court ruled the NRC has jurisdiction over plant safety, operational life, and contracts, the commission is out with favorable rulings for two reactors at Southern Co.'s (NYSE: SO) Plant Vogtle in Georgia.

This story has been a long time in the making.

Two years ago I told you Obama awarded $8.3 billion in loan guarantees to help get this plant built.

And now, for the first time in more than three decades, the NRC will approve the construction of a new nuclear power plant — two of them, in this case.

They are the first to be approved since Three Mile Island.

Together, the two Westinghouse AP 1000 reactors will cost $14 billion and generate 2200 MW, enough to power one million homes. One would come online in 2016 and the other a year later.

In addition to these two plants, applications have been filed to build 22 new reactors in the United States.