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Southern Company's (SO) Vogtle Unit 4 Commences Flush Testing
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The Southern Company’s (SO - Free Report) fully-owned subsidiary Georgia Power accomplished another milestone at its Vogtle nuclear expansion project currently underway in the United States.
Georgia Power started the integrated flush at its Vogtle Unit 4 turbine system, one of the two new units at the Vogtle Electric Generating Plant. Notably, the integrated flush is a testing process, which causes water to move through the plant’s permanent piping system and, as a result, flowing into the reactor vessel and reactor coolant loops.
The testing process indicates a major step to help ensure the safe initiation of Unit 4 and marks the beginning of extensive testings for the unit's systems. During the next few months, project officials at the Vogtle nuclear turbine system will proceed with the cleaning and testing process of the system piping.
Importantly, the process will begin with the chemical and volume control system as well as the spent fuel pool cooling system. This will then pass along the reactor coolant system, the passive core cooling system, and the normal residual heat removal system as they have been turned over from construction to the operation teams.
The Vogtle expansion project — the nation's only nuclear power plant under construction — suffered from continued timing and cost overrun issues over the years, and was also affected by the need to downsize the workforce during the pandemic. However, during the course of 2020, the Vogtle plant achieved several milestones in the construction of Unit 3, including the completion of cold hydro testing, closed vessel testing and open vessel testing, the structural integrity test, and integrated leak rate test as well as obtaining the unit’s first nuclear fuel shipment.
The nuclear expansion project is regarded as the largest employment-generating construction project in Georgia, which, once online, is expected to create more than 800 permanent jobs, and power more than 500,000 homes and businesses.
Georgia Power hopes to maintain the in-service dates for Units 3 and 4 in November 2021 and 2022, respectively, and aims to offer customers a clean and non-carbon source of energy for the next 60 to 80 years. Notably, the two latest units are crucial toward the utility's aim to deliver clean and reliable energy for customers and uphold Southern Company's goal for net-zero emissions by 2050.
Company Profile & Price Performance
Headquartered in Atlanta, GA, Southern Company is one of the largest utility companies in the United States.
The utility’s shares have outperformed the industry in the past six months. Its stock has gained 9.1% compared with the industry’s 4.1% growth.
Zacks Rank & Stocks to Consider
Southern Company currently carries a Zack Rank #3 (Hold).
Korea Electric’s earnings for 2021 are expected to increase 38.4% year over year.
ONEOK’s earnings for 2021 are expected to increase 109.3% year over year.
ENN Energy’s earnings for 2021 are expected to increase 10.3% year over year.
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Southern Company's (SO) Vogtle Unit 4 Commences Flush Testing
The Southern Company’s (SO - Free Report) fully-owned subsidiary Georgia Power accomplished another milestone at its Vogtle nuclear expansion project currently underway in the United States.
Georgia Power started the integrated flush at its Vogtle Unit 4 turbine system, one of the two new units at the Vogtle Electric Generating Plant. Notably, the integrated flush is a testing process, which causes water to move through the plant’s permanent piping system and, as a result, flowing into the reactor vessel and reactor coolant loops.
The testing process indicates a major step to help ensure the safe initiation of Unit 4 and marks the beginning of extensive testings for the unit's systems. During the next few months, project officials at the Vogtle nuclear turbine system will proceed with the cleaning and testing process of the system piping.
Importantly, the process will begin with the chemical and volume control system as well as the spent fuel pool cooling system. This will then pass along the reactor coolant system, the passive core cooling system, and the normal residual heat removal system as they have been turned over from construction to the operation teams.
The Vogtle expansion project — the nation's only nuclear power plant under construction — suffered from continued timing and cost overrun issues over the years, and was also affected by the need to downsize the workforce during the pandemic. However, during the course of 2020, the Vogtle plant achieved several milestones in the construction of Unit 3, including the completion of cold hydro testing, closed vessel testing and open vessel testing, the structural integrity test, and integrated leak rate test as well as obtaining the unit’s first nuclear fuel shipment.
The nuclear expansion project is regarded as the largest employment-generating construction project in Georgia, which, once online, is expected to create more than 800 permanent jobs, and power more than 500,000 homes and businesses.
Georgia Power hopes to maintain the in-service dates for Units 3 and 4 in November 2021 and 2022, respectively, and aims to offer customers a clean and non-carbon source of energy for the next 60 to 80 years. Notably, the two latest units are crucial toward the utility's aim to deliver clean and reliable energy for customers and uphold Southern Company's goal for net-zero emissions by 2050.
Company Profile & Price Performance
Headquartered in Atlanta, GA, Southern Company is one of the largest utility companies in the United States.
The utility’s shares have outperformed the industry in the past six months. Its stock has gained 9.1% compared with the industry’s 4.1% growth.
Zacks Rank & Stocks to Consider
Southern Company currently carries a Zack Rank #3 (Hold).
Some better-ranked players in the utility space are Korea Electric Power Corporation (KEP - Free Report) , currently sporting a Zacks Rank #1 (Strong Buy), and ONEOK, Inc (OKE - Free Report) and ENN Energy Holdings Ltd (XNGSY - Free Report) , eachcarrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Korea Electric’s earnings for 2021 are expected to increase 38.4% year over year.
ONEOK’s earnings for 2021 are expected to increase 109.3% year over year.
ENN Energy’s earnings for 2021 are expected to increase 10.3% year over year.
Legal Marijuana: An Investor’s Dream
Imagine getting in early on a young industry primed to skyrocket from $17.7 billion in 2019 to an expected $73.6 billion by 2027.
Although marijuana stocks did better as the pandemic took hold than the market as a whole, they’ve been pushed down. This is exactly the right time to get in on selected strong companies at a fraction of their value before COVID struck. Zacks’ Special Report, Marijuana Moneymakers, reveals 10 exciting tickers for urgent consideration.
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