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"This country will need more nuclear plants going forward," Chris Womack said at the Reuters Global Energy Transition conference in New York City. This is equivalent to about 10 new nuclear plants with a single reactor each. Based on market capitalization, Southern Company is the second largest name in the Utilities Select Sector SPDR Fund (XLU) . After two decades of nearly flat power growth, Southern Company is now expecting demand to grow by three to four times, the CEO said. "You're also seeing in the Southeast, this incredible population growth and you're seeing all this onshoring with manufacturing."
Persons: Chris Womack, It's, Womack Organizations: Southern Company, Reuters, Energy, Department of Energy, Utilities, Southern Locations: States, New York City, Georgia , Alabama, Mississippi, Atlanta, U.S, Southern
For the first time in almost seven years, a new nuclear reactor has started up in the United States. On Monday, Georgia Power announced that the Vogtle nuclear reactor unit 3 has started a nuclear reaction inside the reactor. It's when the nuclear fission process starts splitting atoms and generating heat, Georgia Power said in a written announcement. However, because nuclear energy is generated without releasing carbon dioxide emissions, which cause global warming, the current increased sense of urgency in responding to climate change has given nuclear energy a chance at a renaissance. The cost associated with building nuclear reactors is a major barrier to a potential resurgence in nuclear energy, however.
Southern Co. on Thursday said it has designated Chris Womack to succeed Thomas Fanning as president and chief executive of the utility holding company. The Atlanta-based outfit said Mr. Womack, who currently serves as chairman, president and CEO of its Georgia Power unit, will become president of Southern Co. on March 31. He’ll add the title CEO following the conclusion of the 2023 annual shareholder meeting.
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