2023-07-21 17:05:55 ET
Southern Co. ( NYSE: SO ) closed +2.8% for its highest finish since May 12 after its Georgia Power unit said it completed a major step toward bringing the second of two new nuclear reactors at Plant Vogtle into operation.
The utility said all 364 inspections, tests and analyses have been performed and all acceptance criteria - known as ITAACs - have been met on Vogtle Unit 4 and the documentation submitted to the U.S. Nuclear Regulatory Commission.
The ITAACs - Inspections, Tests, Analyses, and Acceptance Criteria - must all be verified before fuel can be loaded into the new reactor.
Georgia Power, which is a subsidiary of Southern Power, is for receipt of the 103(g) finding from the NRC documenting that license acceptance criteria for Unit 4 have been met, at which point "no further NRC findings are necessary in order for [the company] to load fuel and begin the start-up sequence."
The unit completed hot functional testing, which confirms the reactor is ready to be loaded with nuclear fuel, in May.
The company expects fuel loading will occur later this year, with Vogtle 4 scheduled to enter service late in 2023 or early in 2024 .
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: Down 1% YTD, up 1% in the past 12 months
For further details see:
Southern preparing for fuel load at Vogtle Unit 4 nuclear reactor