From Reuters, February 25:
The U.S. Energy Department has offered a $26.54 billion loan to subsidiaries of Southern Co. to increase grid reliability, the largest ever such financing by its loan office, the department said on Wednesday.
The loans will save power customers in Georgia and Alabama more than $7 billion, the department said, without detailing how. Southern said last year it would freeze increases in power bills for several years.The two roughly 30-year loans to Georgia Power and Alabama Power will help build or upgrade more than 16 gigawatts of power to the electrical grid, including 5 GW of new natural gas generation.It will also help enlarge current nuclear plants, modernize hydropower plants, and develop battery energy storage systems and over 1,300 miles (2,092 km) of transmission and grid enhancement projects, the department said....
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