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Southern Company’s (SO - Free Report) subsidiary, Georgia Power, recently announced that it completed cold hydro testing for Unit 4 at the Vogtle nuclear expansion project, ratifying the reactor’s coolant system functions as designed.
During the testing process, Georgia Power mentioned that the reactor coolant system was filled with water and pressurized above-normal operating conditions and then lowered to normal design pressure. Meanwhile, complete inspections were conducted to verify if the system met design standards.
The conclusion of the test is essential to support the last major test left at the facility’s Unit 4 called the hot functional testing. Georgia Power intends to initiate the last test by the end of the first quarter of 2023, with its planned in-service date being the fourth quarter of 2023. The first of the new reactors, Unit 3, is set to go into service early next year.
Per Georgia Power officials, the two new units are projected to power more than 500,000 homes and businesses with emission-free energy. One of Georgia’s subsidiaries will operate the new units on behalf of four co-owners — Georgia Power, Oglethorpe Power, MEAG Power and Dalton Utilities.
Chris Womack, Georgia Power’s chairman, president and CEO, said that the team at the Vogtle 3 & 4 site continues to make vital progress as the company moves closer to bringing online the first new nuclear units to be built in the United States in more than 30 years. “These units are a long-term investment for our state and essential to building the future of energy for Georgia,” he added.
Founded in 1945, Southern Company is one of the largest utilities in the United States. The Atlanta, GA-based company deals with the generation, transmission and distribution of electricity. Following its merger with AGL Resources on Jul 1, 2016, SO serves approximately nine million customers through its seven electric and natural gas distribution units.
The Zacks Consensus Estimate for American Electric Power’s 2022 earnings is pegged at $5.03 per share, which suggests an increase of about 6.1% from the year-ago loss of $4.74.
AEP beat the consensus mark for earnings in all the trailing four quarters, the average being around 2.9%.
The consensus estimate for NRG Energy’s 2022 earnings stands at $11.57 per share, which implies an increase of 50.8% from the year-ago earnings of $7.67.
The consensus mark for NRG’s 2022 earnings has been revised upward two times over the past 60 days from $9.28 to $11.57 per share.
Estimates for AES’ 2022 earnings are pegged at $1.62 per share, about 6.6% higher than the year-ago estimates of $1.52 per share.
AES beat the consensus mark for earnings in three of the trailing four quarters, the average being around 5.6%.
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Southern's (SO) Subsidiary Concludes Cold Hydro Testing
Southern Company’s (SO - Free Report) subsidiary, Georgia Power, recently announced that it completed cold hydro testing for Unit 4 at the Vogtle nuclear expansion project, ratifying the reactor’s coolant system functions as designed.
During the testing process, Georgia Power mentioned that the reactor coolant system was filled with water and pressurized above-normal operating conditions and then lowered to normal design pressure. Meanwhile, complete inspections were conducted to verify if the system met design standards.
The conclusion of the test is essential to support the last major test left at the facility’s Unit 4 called the hot functional testing. Georgia Power intends to initiate the last test by the end of the first quarter of 2023, with its planned in-service date being the fourth quarter of 2023. The first of the new reactors, Unit 3, is set to go into service early next year.
Per Georgia Power officials, the two new units are projected to power more than 500,000 homes and businesses with emission-free energy. One of Georgia’s subsidiaries will operate the new units on behalf of four co-owners — Georgia Power, Oglethorpe Power, MEAG Power and Dalton Utilities.
Chris Womack, Georgia Power’s chairman, president and CEO, said that the team at the Vogtle 3 & 4 site continues to make vital progress as the company moves closer to bringing online the first new nuclear units to be built in the United States in more than 30 years. “These units are a long-term investment for our state and essential to building the future of energy for Georgia,” he added.
Founded in 1945, Southern Company is one of the largest utilities in the United States. The Atlanta, GA-based company deals with the generation, transmission and distribution of electricity. Following its merger with AGL Resources on Jul 1, 2016, SO serves approximately nine million customers through its seven electric and natural gas distribution units.
Southern Company currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks from the utility sector that warrant a look include American Electric Power (AEP - Free Report) , NRG Energy (NRG - Free Report) and AES (AES - Free Report) , each currently carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for American Electric Power’s 2022 earnings is pegged at $5.03 per share, which suggests an increase of about 6.1% from the year-ago loss of $4.74.
AEP beat the consensus mark for earnings in all the trailing four quarters, the average being around 2.9%.
The consensus estimate for NRG Energy’s 2022 earnings stands at $11.57 per share, which implies an increase of 50.8% from the year-ago earnings of $7.67.
The consensus mark for NRG’s 2022 earnings has been revised upward two times over the past 60 days from $9.28 to $11.57 per share.
Estimates for AES’ 2022 earnings are pegged at $1.62 per share, about 6.6% higher than the year-ago estimates of $1.52 per share.
AES beat the consensus mark for earnings in three of the trailing four quarters, the average being around 5.6%.