Utilities Shares Sink as Investors Hedge on Fed Policy View -- Utilities Roundup

Shares of power producers sank.

The only nuclear-power plant under construction in the U.S. is again facing delays and additional costs.

Earlier this week, an engineering expert working for the Georgia Public Service Commission testified that the startup of the Alvin W. Vogtle Electric Generating Plant would likely be delayed until the summer of 2022 and cost $2 billion more than expected.

Southern Co., the Atlanta-based utility building the nuclear-power plant, said it expects the first reactor to be completed during the first quarter of 2022.

Meanwhile, CMS Energy agreed to sell its EnerBank USA subsidiary for $960 million in cash to Regions Financial as the Michigan-based consumer energy business said it was exiting a "non-core business at a compelling valuation."

Write to Amy Pessetto at [e-mail]

(END) Dow Jones Newswires

06-08-21 1709ET