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Rick Perry illegally helps Georgia nuclear power plant $ 3.7 billion Dollars in financing



On Friday, Energy Secretary Rick Perry issued a loan guarantee of $ 3.7 billion. Kr. To keep the Vogtle nuclear power plant under construction in Georgia, after many years of cost overruns and project delays.

Perry published the announcement after turreting the site in Georgia with helpers involved in the project, state regulators and the governor of Georgia.

He said the Vogtle project is "critically important" to the administration's goal of reviving and expanding the US nuclear industry. "A strong nuclear industry supports a reliable and robust network and strengthens our energy and national security," he said.

Perry also noted that Vogtle is an energy infrastructure project "with a huge scope of thousands of workers" that rebuilds a highly qualified nuclear power supply and supply chain to the future.

But while Perry took the spot, critics argued that the new funding puts the taxpayers on the hook for $ 1

2 billion if the power plant abounds.

The Obama administration granted the project $ 8.3 billion in loan guarantees when the project was priced at $ 14 billion. The project is now expected to cost about DKK 28 billion. Dollars, which makes Perry arrange the federal financing hike from Washington.

The facility has also received state approval for over half a billion dollars in additional funding to be recovered from the taxpayer. [19659002] Southern Company and its project-building partners had asked the Trump administration for additional loan guarantee as the cost increased over the last year.

Tom Pyle, who had led Trump's transition team at the Energy Department, called Perry's decision the wrong choice.

"We oppose federal loan guarantees for any energy source, period", Pyle, who heads the Conservative US Energy Alliance who opposes energy subsidies, told Washington Examiner . "At some point, ask the question how much is enough for this project?"

Other watchdog groups also advocated criticizing the Energy Department's decision.

"Increased support for a project plagued by cost overruns and delays is an unwarranted breakthrough in the market – it forces taxpayers to take the risks while rewards go to the wealthy southern company and its shareholders," said the taxpayer of Common Sense President Ryan Alexander .

Anti-nuclear activists also object. Tim Judson, managing director of the Nuclear Information and Resource Service, said that no funding "would make the project less likely to fail."

Judson's group has opposed the Vogtle factory since the early days of the project.

Judson is waiting for a pending lawsuit to allow utility customers in Georgia to withdraw from the project as they pay for the facility through higher rates in the state to help restore costs. The case accuses Georgia Power, a subsidiary of Southern Company, of gross negligence and mismanagement, and should therefore not be allocated with increased rates.

"But now, as a result of the DOE providing the additional loan guarantee, US taxpayers are likely to hook up to rescue providers by absorbing a $ 12 billion loss," Judson said.

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