• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Jeff Bezos pledged $10 billion for climate change. With the 2030 clock ticking, his wife, Lauren Sánchez Bezos, is leading the charge to spend it

2

Anne Hathaway says she was spammed with ChatGPT-written thank you notes after hiring for a recent role: ‘Nobody on that list gets that job’

3

Microsoft boss Steve Ballmer publicly dismissed Chrome as a 'rounding error'—but Google’s CEO says he used the jab as fuel to win the browser-wars

1

Jeff Bezos pledged $10 billion for climate change. With the 2030 clock ticking, his wife, Lauren Sánchez Bezos, is leading the charge to spend it

2

Anne Hathaway says she was spammed with ChatGPT-written thank you notes after hiring for a recent role: ‘Nobody on that list gets that job’

3

Microsoft boss Steve Ballmer publicly dismissed Chrome as a 'rounding error'—but Google’s CEO says he used the jab as fuel to win the browser-wars
EnvironmentNuclear Power

Energy Secretary Jennifer Granholm calls to ‘at least triple’ the current nuclear capacity in the U.S.

By
Jeff Amy
Jeff Amy
and
The Associated Press
The Associated Press
Down Arrow Button Icon
By
Jeff Amy
Jeff Amy
and
The Associated Press
The Associated Press
Down Arrow Button Icon
June 3, 2024, 4:34 AM ET
US Energy Secretary Jennifer Granholm
US Energy Secretary calls for more nuclear power while celebrating $35 billion Georgia reactors.Saul Loeb—AFP/Getty Images
Add Fortune on Google for similar content.

U.S. Energy Secretary Jennifer Granholm on Friday called for more nuclear reactors to be built in the United States and worldwide. But the CEO of the Georgia utility that just finished the first two scratch-built American reactors in a generation at a cost of nearly $35 billion says his company isn’t ready to pick up that baton.

Recommended Video

Speaking in Waynesboro, Georgia, where Georgia Power Co. and three other utilities last month put a second new nuclear reactor into commercial operation, Granholm said the United States needs 98 more reactors with the capacity of units 3 and 4 at Plant Vogtle to produce electricity while reducing climate-changing carbon emissions. Each of the two new reactors can power 500,000 homes and businesses without releasing any carbon.

“It is now time for others to follow their lead to reach our goal of getting to net zero by 2050,” Granholm said. “We have to at least triple our current nuclear capacity in this country.”

The federal government says it is easing the risks of nuclear construction, but the $11 billion in cost overruns at Plant Vogtle near Augusta remain sobering for other utilities. Chris Womack is the CEO of Southern Co., the Atlanta-based parent company of Georgia Power. He said he supports Granholm’s call for more nuclear-power generation, but he added that his company won’t build more soon.

“I think the federal government should provide a leadership role in facilitating and making that become a reality,” Womack said. “We’ve had a long experience, and we’re going to celebrate what we’ve gotten done here for a good little while.”

Friday’s event capped a week of celebrations, where leaders proclaimed the reactors a success, even though they finished seven years late.

On Wednesday, Georgia Gov. Brian Kemp floated the idea of a fifth Vogtle reactor. Although the Republican Kemp rarely discusses climate change, he has made electric vehicles a priority and has said new industries demand carbon-free electricity.

“One of the first questions on their minds is: Can we provide them with what they need?” Kemp said. “We can confidently answer ‘Yes!’ because of days like today.”

The new Vogtle reactors are currently projected to cost Georgia Power and three other owners $31 billion, according to calculations by The Associated Press. Add in $3.7 billion that original contractor Westinghouse paid Vogtle owners to walk away from construction, and the total nears $35 billion.

Electric customers in Georgia already have paid billions for what may be the most expensive power plant ever. The federal government aided Vogtle by guaranteeing the repayment of $12 billion in loans, reducing borrowing costs.

On Wednesday, President Joe Biden’s administration held a meeting to promote nuclear power, saying it would create a working group to ease the challenges that dogged Vogtle.

The Biden administration promised that the military would commission reactors, which could help drive down costs for others. It also noted support for smaller reactors, suggesting small reactors could replace coal-fueled electric generating plants that are closing. The administration also pledged to further streamline licensing.

Granholm said that she believed others could learn from Vogtle’s mistakes, like starting construction before plans were completed. She also predicted additional models of the Vogtle reactors, which were the first of their kind built in the United States, could be built at lower cost.

“So the question is, how do you learn from the new design in the second and the third and the fourth and the fifth plant? If you don’t vary the design, it gets 30% less expensive every time you build it,” Granholm said.

In Michigan, where Granholm was a Democratic governor, she announced in March up to $1.5 billion in loans to restart the Palisades nuclear power plant, which was shut down in 2022 after a previous owner had trouble producing electricity that was price-competitive.

But with much of the domestic effort focused on building a series of smaller nuclear reactors using mass-produced components, critics question whether they can actually be built more cheaply. Others note that the United States still hasn’t created a permanent repository for nuclear waste, which lasts for thousands of years. Other forms of electrical generation, including solar backed up with battery storage, are much cheaper to build initially.

In Georgia, almost every electric customer will pay for Vogtle. Georgia Power owns 45.7% of the reactors. Smaller shares are owned by Oglethorpe Power Corp., which provides electricity to member-owned cooperatives, the Municipal Electric Authority of Georgia and the city of Dalton. Utilities in Jacksonville, Florida, as well as in the Florida Panhandle and parts of Alabama also have contracted to buy Vogtle’s power.

Regulators in December approved an additional 6% rate increase on Georgia Power’s 2.7 million customers to pay for $7.56 billion in remaining costs at Vogtle, with the company absorbing $2.6 billion in costs. That is expected to cost the typical residential customer an additional $8.97 a month in May, on top of the $5.42 increase that took effect when Unit 3 began operating.

Subscribe to Fortune Gulf Brief. Every Tuesday, this new newsletter delivers clear-eyed, authoritative intelligence on the deals, decisions, policies, and power shifts shaping one of the world’s most consequential regions, written for the people who need to act on it. Sign up here.
About the Authors
By Jeff Amy
See full bioRight Arrow Button Icon
By The Associated Press
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Environment

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Environment

b
EnvironmentPope
The pope knows Peru’s mines firsthand, but a top banker is pleading with him to change his mind on rare earths
By David Biller, Nicole Winfield and The Associated PressJune 20, 2026
5 hours ago
Jeff Bezos pledged $10 billion for climate change. With the 2030 clock ticking, his wife, Lauren Sánchez Bezos, is leading the charge to spend it
EnvironmentJeff Bezos
Jeff Bezos pledged $10 billion for climate change. With the 2030 clock ticking, his wife, Lauren Sánchez Bezos, is leading the charge to spend it
By Sydney LakeJune 19, 2026
1 day ago
A farmer walks through drought-stricken field of crops
EconomyWeather and forecasting
One of the most powerful El Niños on record cost the world economy $5.7 trillion. The 2026 cycle might be even stronger
By Tristan BoveJune 17, 2026
3 days ago
sea
Energygas
The Iran war exposed Southeast Asia’s energy vulnerability. Now its import bill could triple to $245 billion
By Anton L. Delgado and The Associated PressJune 17, 2026
3 days ago
A woman wearing a hat and scarf holds a sign that says, "Don't let data centers drain us."
PoliticsData centers
Data center hate is snowballing, and construction setbacks in the first three months of 2026 have already exceeded last year’s, report finds
By Sasha RogelbergJune 16, 2026
5 days ago
Vietnam’s economy is one of the fastest-growing in the world. Can it make the leap into the ranks of middle-income countries?
MagazineVietnam
Vietnam’s economy is one of the fastest-growing in the world. Can it make the leap into the ranks of middle-income countries?
By Nicholas GordonJune 16, 2026
5 days ago

Most Popular

Jeff Bezos pledged $10 billion for climate change. With the 2030 clock ticking, his wife, Lauren Sánchez Bezos, is leading the charge to spend it
Environment
Jeff Bezos pledged $10 billion for climate change. With the 2030 clock ticking, his wife, Lauren Sánchez Bezos, is leading the charge to spend it
By Sydney LakeJune 19, 2026
1 day ago
Anne Hathaway says she was spammed with ChatGPT-written thank you notes after hiring for a recent role: ‘Nobody on that list gets that job’
Success
Anne Hathaway says she was spammed with ChatGPT-written thank you notes after hiring for a recent role: ‘Nobody on that list gets that job’
By Orianna Rosa RoyleJune 18, 2026
3 days ago
Microsoft boss Steve Ballmer publicly dismissed Chrome as a 'rounding error'—but Google’s CEO says he used the jab as fuel to win the browser-wars
Success
Microsoft boss Steve Ballmer publicly dismissed Chrome as a 'rounding error'—but Google’s CEO says he used the jab as fuel to win the browser-wars
By Preston ForeJune 17, 2026
3 days ago
The Great Recession’s missing children are finally bringing college’s financial crisis into sight. Welcome to the ‘enrollment volatility’ era
Economy
The Great Recession’s missing children are finally bringing college’s financial crisis into sight. Welcome to the ‘enrollment volatility’ era
By Tristan BoveJune 20, 2026
14 hours ago
Nvidia CEO Jensen Huang says electricians and plumbers will be needed by the hundreds of thousands in the new working world
Success
Nvidia CEO Jensen Huang says electricians and plumbers will be needed by the hundreds of thousands in the new working world
By Preston ForeJune 20, 2026
10 hours ago
The man who lived through the fall of the Soviet Union and helped wealthy Chinese move to Canada sees a familiar picture in America
Success
The man who lived through the fall of the Soviet Union and helped wealthy Chinese move to Canada sees a familiar picture in America
By Nick LichtenbergJune 17, 2026
4 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.