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MEAG Power

Issuer Type: Power/Gas

Bond Ratings

1 of 8

Project One Senior Lien

Moody's
A1
S&P
A
Fitch
A-

Project One Subordinated Lien

Moody's
A2
S&P
A-
Fitch
BBB+

General Resolution Projects Senior Lien

Moody's
A1
S&P
A
Fitch
A-

General Resolution Projects Subordinated Lien

Moody's
A2
S&P
A-
Fitch
BBB+

Combined Cycle Project

Moody's
A1
S&P
A-
Fitch
BBB+

Vogtle Units 3&4 Project M

Moody's
A2
S&P
A
Fitch
BBB+

Vogtle Units 3&4 Project J

Moody's
Baa1
S&P
A
Fitch
BBB+

Vogtle Units 3&4 Project P

Moody's
Baa2
S&P
BBB+
Fitch
BBB+
Edward E. Easterlin

On behalf of MEAG Power, I would like to welcome you to our investor relations website. We appreciate your interest and investments in MEAG Power bonds. They allow us to make critical investments in public infrastructure throughout our service area.

I hope you find this website useful as you seek to better understand the credit fundamentals of MEAG Power. Please don't hesitate to contact our team with any questions. Thanks again for your interest in our bond program.

Edward E. Easterlin, Senior Vice President and Chief Financial Officer

News & Highlights

December 14, 2020

News
Condenser Vacuum Testing on Vogtle Unit 3 Completed

The following is a Georgia Power news release:


Georgia Power today announced the completion of the pre-operational condenser vacuum test of the Vogtle Unit 3 turbine system. The milestone marks another step for the Vogtle 3 & 4 nuclear expansion project toward operations and providing customers with a clean, carbon-free energy source for the next 60 to 80 years.

The test was conducted with the main turbine on turning gear and by operating supporting systems to establish the condenser vacuum, which is necessary to demonstrate the steam supply and water-cooling systems operate together and are ready to support hot functional testing and initial fuel load in the reactor.

For more information:

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December 11, 2020

News
Plant Vogtle Vogtle Unit 4 shield building roof set

The following is a Georgia Power news release:


The two-million-pound roof of the Vogtle Unit 4 shield building has been set into place at the Plant Vogtle nuclear expansion project near Waynesboro, Georgia. With this placement, there is now one last major crane lift remaining for Vogtle Unit 4, the CB-20 module, which is part of the AP1000 reactor’s advanced passive safety system. The Vogtle Unit 4 shield building roof placement comes just days after the receipt of the first nuclear fuel shipment for Vogtle Unit 3, representing the first nuclear fuel shipment for the AP1000 reactor in the U.S.

For more information:

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December 9, 2020

News
Vogtle Unit 3 receives first nuclear fuel shipment

The following is a Georgia Power news release:


Plant Vogtle Unit 3 has received its first nuclear fuel shipment, representing the first nuclear fuel shipment for this newly-designed AP1000 reactor in the U.S. The milestone marks a major step for the Vogtle 3 & 4 nuclear expansion project towards operations and providing customers with a carbon-free energy source that is expected to put downward pressure on rates for decades to come.

In order to receive nuclear fuel, construction of specific areas of Unit 3 had to be completed and inspected, ensuring critical infrastructure, such as the fuel vault and spent fuel pool, meet construction quality and design requirements. With site construction turning over the fuel handling area of Vogtle Unit 3 to operations, the Vogtle 3 & 4 site implemented specific and comprehensive policies, procedures and security measures to safely receive, handle and store the nuclear fuel.

For more information:

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