Southern Co. said an accelerated timetable for receiving the remaining $3.2 billion in parental guarantees from Toshiba Corp. for two reactors under construction in Georgia will help its case to continue with the project, Bloomberg News reported. Southern’s Georgia Power unit, which owns a 46 percent stake in the Vogtle plant, will get about $1.47 billion of the total. The project owners, which include Oglethorpe Power Corp., Municipal Electric Authority of Georgia and Dalton Utilities, have received $455 million so far from Toshiba. Southern said that Toshiba will provide the remaining payments by Dec. 15, according to a statement Tuesday by the Atlanta-based company. Under an earlier agreement, Toshiba would have spread out the payments through 2020 after its Westinghouse Electric Co. unit backed out of the project after filing for bankruptcy in March.
