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Southern Company and former DOE counsel defend loan guarantees as critical to building Vogtle and grid projects
Summary
Southern Company’s treasury chief told a House Science Subcommittee that DOE loan guarantees helped reduce financing costs for Plant Vogtle and that similar assistance can accelerate transmission and other grid investments needed for rising electricity demand.
John Haygood, head of treasury at Southern Company, told the House Science Subcommittee that the Department of Energy’s loan programs were instrumental in financing Plant Vogtle Units 3 and 4 and in supporting transmission and other grid projects that Southern Company is pursuing.
Haygood said the loans “helped mitigate capital markets risk, saved our customers over half a billion dollars, and contributed to America’s energy security.” He told the subcommittee Southern Company first sought LPO assistance during the Bush…
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