Georgia nuclear reactor faces new delay after vibrations found in cooling system (NYSE:SO)

Southern Co. (NYSE:SO) -2.6% in early trading Friday after its Georgia Power unit disclosed another delay in Plant Vogtle’s Unit 4 nuclear reactor, which now will not start commercial operation until sometime during Q2.

Georgia Power said vibrating pipes in one of the unit’s cooling systems were found recently during start-up testing on the reactor, which were “similar in nature” to those experienced during pre-operational testing for Unit 3, which began commercial operations last summer.

The company said the delay is not expected to affect the total project capital cost forecast, but it likely would lose $30M in profit for each month beyond March that Unit 4 is not running because of an earlier order by state utility regulators.

The Georgia Public Service Commission has said Georgia Power could not earn additional return on equity through a construction surcharge levied on the utility’s 2.7M customers after March 30.

The two new Vogtle reactors are currently projected to cost Georgia Power and three other owners $31B, according to Associated Press calculations.