Chris Womack, chief executive officer of Southern Company Inc., said the U.S. needs to construct a bevy of additional nuclear plants in order to meet escalating energy consumption while hitting climate objectives. Speaking at the Reuters Global Energy Transition conference in New York City, Womack argued that installing as many as 10 gigawatts of new nuclear power, or, roughly speaking, about ten single-reactor plants, was critical.
“This country will need more nuclear plants going forward,” Womack stated. He highlighted Southern Company’s significant role in the U.S. utilities sector, serving millions in Georgia, Alabama, and Mississippi. Last year, Southern Company completed the first U.S. nuclear plant in over three decades, with a second reactor beginning operations in April.
Southern Company is experiencing an unprecedented surge in electricity demand, akin to levels seen during the proliferation of air conditioning and heat pumps in the 1970s and 1980s. After two decades of stagnant power growth, the company now anticipates demand to increase three to four times, driven by artificial intelligence, data centers, and population growth in the Southeast.
Atlanta, one of the fastest-growing data center markets in the country, saw a 211% increase in construction to 732 megawatts in 2023, according to CBRE. Womack noted that 80% of the anticipated demand through the decade’s end will be met by renewable energy, but natural gas and nuclear will be essential for reliable power.
“Nuclear has got to be a big part of this mix, the green energy effort as we go forward here on making sure that this economy is going to have the power and electricity [it needs],” Womack said. Although nuclear power can provide consistent, zero-carbon electricity, building new plants is expensive and time-consuming.
Southern Company’s Plant Vogtle in Georgia faced delays and cost overruns, opening seven years late and costing over $30 billion—double the initial estimates. Womack is seeking to ratchet up the nuclear industry as part of a broader debate about how U.S. energy industries should move forward. While nuclear power has the potential to provide clean, steady energy at a massive scale, there are both large financial and logistical hurdles in actually building one of these monolithic reactors.
The achievement of the long-beleaguered Plant Vogtle reactors carries that torch, something between a milestone and a cautionary tale. Industry experts have noted that given the high costs and timelines for nuclear, projects will require careful planning and strong financing to move forward. Womack also points to the necessary government support, such as incentives and regulatory reforms, that will help facilitate permitting faster while keeping construction costs down.
However, Womack calls for government incentives and cost-mitigation strategies to help with new nuclear projects, even given the hurdles. He also promoted the promise of small modular nuclear reactors, which are less capital-intensive and easier to site than their traditional counterparts. This sentiment was echoed by GE Vernova CEO Scott Strazik, who said SMR would contribute a significant share of the energy mix, with commissioning expected in Ontario, Canada, from 2029.
Not all industry leaders agree on the future of nuclear power. The investor-owned power company AES Corp., similarly, described the nuclear zeal as overdone, CEO Andres Gluski said new nukes are not cost-effective. Still, Womack stands firm in his call to continue all-of-the-above efforts supporting a diversified portfolio of energy that includes nuclear as the nation grows and evolves its energy needs.
