SMR - Southern's Vogtle Unit 3 enters commercial operation in Georgia

2023-07-31 11:33:55 ET

Southern Co.'s ( NYSE: SO ) Georgia Power said Monday that Plant Vogtle Unit 3 has entered commercial operation and is now serving customers, making it the first new nuclear unit built from scratch in the U.S. to enter service in more than 30 years.

The reactor is expected to produce 1,100 MW of electricity at full output, enough to power ~500K homes and businesses.

Georgia Power said the unit and its twin, Unit 4 - which received approval last week from the Federal Energy Regulatory Commission to load radioactive fuel and is expected to be finished by the end of Q1 2024 - will be in service for the next 60-80 years.

Vogtle is important as government officials and some utilities are again looking to nuclear power to help fight climate change, and the Vogtle Unit 3 start-up may be helping lift shares of some uranium miners and nuclear power developers in Monday's trading.

The Global X Uranium ETF ( NYSEARCA: URA ) +3.3% , with individual gainers including NuScale Power ( SMR ) +9% , Uranium Energy ( UEC ) +8.4% , Energy Fuels ( UUUU ) +4.4% , NexGen Energy ( NXE ) +3.9% , Denison Mines ( DNN ) +3.2% , Cameco ( CCJ ) +2.8% .

More on Southern Co.:

• Financial and valuation comparison to sector peers
• Analysis: Even With The End Of The Vogtle Saga, Southern Co. Is A Hold
• Stock price return: Up less than 1% YTD, down 5% in the past 12 months

For further details see: