This Utility Has Big Plans for 2023
Southern Company (NYSE: SO) takes a long-term view of its business, even when that goes counter to Wall Street's desires. As one of the largest utility companies in the United States, it has the financial heft to make long-term investments.
For instance, its nuclear power plant expansion effort has been a sore spot for investors for years because of its expense. But the project is almost done and it's part of the big news you need to watch for at Southern Company in 2023.
Southern Company selected the site for two nuclear power plants, collectively known as the Vogtle project, in 2005. The project was approved in 2009 and was expected to cost around $14 billion, with Vogtle units 3 and 4 scheduled to come online in 2016 and 2017. The company faced a long list of delays and cost overruns, including the bankruptcy of its main contractor, Westinghouse, that resulted in Southern Company taking over the project.
Source Fool.com
