NORTH MISSISSIPPI — The Tennessee Valley Authority says the revised total cost to complete Unit 2 at Watts Bar Nuclear Plant in Spring City, Tenn., is up to $4.5 billion.
The earlier estimate in 2007 had been $2.49 billion.
The federal utility, in a statement yesterday, blamed the increase on poor previous estimates and that reviews to support the initial estimate were not completed.
TVA also said the unit is now expected to be done between September and December 2015. The previous date was this year.
Unit 1 at the plant is already operating, along with three nuclear units at Browns Ferry in Alabama and two at Sequoyah near Chattanooga. The nuclear units generate about a third of TVA’s total power supply for the Tennessee Valley region.
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