Construction to expand Southern’s Vogtle plant in Georgia is “going well” and hasn’t encountered major slowdowns from the coronavirus, CEO
- No workers at site have tested positive for the virus
- Co. has no need to issue shares to fund capital requirements after last year’s transactions and has little debt maturing in the short term
- “We’re extraordinarily well suited,” Fanning said
- Co. sees a reduction in industrial and commercial customers’ demand for power, offset by an uptick in residential consumption
- Southern is ‘nowhere near’ having to review earnings guidance because of a potential recession
- The spread of the coronavirus should have no major impact on the U.S.’s ability to generate electricity and keep the grid up
- “We have all sorts of long-term plans should the pandemic get very severe”
- Utilities’ capital spending should be little affected by a likely economic downturn, with investments in grid resilience getting a lion share of that
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