U.S. needs major nuclear power expansion to meet rising electricity demand, Southern Company CEO says
The United States needs to build a significant number of nuclear plants to supply surging energy demand while also meeting climate goals, the CEO of Southern Company said at an event on Thursday.
“This country will need more nuclear plants going forward,” Chris Womack said at the Reuters Global Energy Transition conference in New York City.
“It’s upwards of 10 large gigawatts of nuclear power that I think we have to have going forward,” the CEO said. This is equivalent to about 10 new nuclear plants with a single reactor each. The typical reactor in the U.S. produces about a gigawatt of electricity, according to the Department of Energy.
Based on market capitalization, Southern Company is the second largest name in the Utilities Select Sector SPDR Fund (XLU). It’s also one of the largest providers of electricity in the nation, serving millions of people across Georgia, Alabama and Mississippi.
Last year, the Atlanta-headquartered utility completed the first nuclear plant in the U.S. in more than three decades, with the second of two new reactors having started commercial operations in April.
Womack said Southern Company is seeing a level of electricity demand that that the utility has not faced since the advent of air conditioning and heat pumps in the South in the 1970s and 1980s. After two decades of nearly flat power growth, Southern Company is now expecting demand to grow by three to four times, the CEO said.
“A lot of this is dependent and contingent upon what we see with artificial intelligence and all those large learning models and what data centers will consume,” Womack said. “You’re also seeing in the Southeast, this incredible population growth and you’re seeing all this onshoring with manufacturing.”
Unit 3’s reactor and cooling tower stand at Georgia Power Co.’s Plant Vogtle nuclear power plant in Waynesboro, Georgia, on Jan. 20, 2023.
John Bazemore | AP
Atlanta is one of the fastest growing data center markets in the nation, with construction growing by 211% increase to 732 megawatts in 2023, according to the real estate service firm CBRE. Utility stocks have made a comeback in 2024 on the power trend, with Southern Company up 11% year to date.
Womack said 80% of the demand Southern Company is facing between now and the end of the decade will be supplied by renewable energy, but natural gas and nuclear will also play key roles in providing reliable power.
“Nuclear has got to be a big part of this mix, of [the] decarbonization focus as we go forward to make sure we’re having the power and the energy and the electricity this economy needs,” Womack said.
Nuclear has the advantage of providing reliable electricity without emitting any carbon emissions, while renewables will need cheaper, longer duration batteries before they power facilities like data centers around the clock at commercial scale.
But building new nuclear plants is expensive, and the permitting and construction process is time consuming. The new nuclear reactors that Southern Company built at the Plant Vogtle in Georgia opened some seven years behind schedule and cost more than $30 billion, at least double the original projections, according to the Energy Information Administration.
Not everyone in the power industry is convinced that nuclear is the way forward. AES Corporation CEO Andres Gluski said earlier this month the he thought the “euphoria” over nuclear power is a “little over blown.” AES is major supplier of power for tech companies building out data centers.
There is only so much existing nuclear energy that merchant power providers can re-contract to sites such as data centers, Gluski told CNBC. “The question is, going forward, what’s the price of new nuclear,” he said.
Womack said the government has to put the right incentives in place and ensure that there is a way to mitigate cost overruns in building new nuclear plants. The CEO said developing small modular nuclear reactors is also key. These smaller nuclear plants, which are still under development, are in theory easier to site and not as capital intensive as traditional plants.
GE Vernova CEO Scott Strazik told CNBC Thursday that small modular nuclear reactors will become an important part of the energy mix. The company will commission a small modular reactor in Ontario, Canada in 2029.
“Small modular reactors are going to become a much bigger piece of the equation,” Strazik told CNBC’s “Squawk Box” at the Aspen Ideas Festival. “No question it will be.”
The 2025 Hyundai IONIQ 5 got a major glow up with extra driving range, a sleek interior and exterior facelift, and even Tesla Supercharger access with an added NACS port. With leases starting at just $179 per month, the Hyundai IONIQ 5 might be your best bet to get into an EV right now.
How much does the 2025 Hyundai IONIQ 5 cost to lease?
Hyundai upgraded its best-selling electric SUV in every way possible for the 2025 model year. The 2025 IONIQ 5 can drive up to 318 miles on a single charge, recharge from 10% to 80% in under 20 minutes, and is available starting at just $42,500.
After cutting lease prices last month, the 2025 Hyundai IONIQ 5 was available to lease for as low as $179 per month.
The offer was set to end on July 7, but Hyundai extended it through its new “Hyundai Getaway Sales Event.” The 2025 Hyundai IONIQ 5 SE Standard Range model is still available for lease, starting at just $179 per month.
That’s for the base version, which has a range of up to 245 miles. The offer is for a 24-month lease with $3,999 due at signing.
The long-range SE RWD variant, with a driving range of up to 318 miles, can be leased for as little as $199 per month. Upgrading to the AWD model will cost $249 per month. You can even snag the off-road XRT variant for $299 a month right now.
Hyundai upgraded the IONIQ 5 with a sleek facelift, adding to its already bold design. Inside, the 2025 IONIQ 5 features a redesigned center console, steering wheel, and HVAC control system based on driver feedback.
It also features a more powerful, next-gen infotainment system. The setup includes dual 12.3″ driver display and infotainment screens with standard wireless Apple CarPlay and Android Auto, voice-recognition, and more.
If you’re looking for something a little bigger, Hyundai’s three-row electric SUV, the IONIQ 9 (Check out our review), is listed for lease starting at just $419 per month.
| 2025 Hyundai IONIQ 5 Trim | EV Powertrain | Driving Range (miles) | Starting Price* | Monthly lease price July 2025 |
| IONIQ 5 SE RWD Standard Range | 168-horsepower rear motor | 245 | $42,500 | $179 |
| IONIQ 5 SE RWD | 225-horsepower rear motor | 318 | $46,550 | $199 |
| IONIQ 5 SEL RWD | 225-horsepower rear motor | 318 | $49,500 | $209 |
| IONIQ 5 Limited RWD | 225-horsepower rear motor | 318 | $54,200 | $309 |
| IONIQ 5 SE Dual Motor AWD | 320-horsepower dual motor | 290 | $50,050 | $249 |
| IONIQ 5 SEL Dual Motor AWD | 320-horsepower dual motor | 290 | $53,000 | $259 |
| IONIQ 5 XRT Dual Motor AWD | 320 horsepower dual motor | 259 | $55,400 | $359 |
| IONIQ 5 Limited Dual Motor AWD | 320-horsepower dual motor | 269 | $58,100 | $299 |
To sweeten the deal, Hyundai is throwing in a free ChargePoint Level 2 home charger with the purchase or lease of a new 2025 IONIQ 5 or 2026 IONIQ 9.
Both the 2025 IONIQ 5 and 2026 IONIQ 9 are built at Hyundai’s new EV plant in Georgia. The current lease offers include the $7,500 federal EV tax credit, which is set to expire at the end of September. Hyundai’s new deals are available through September 2, 2025.
Ready to test one out for yourself? We can help you get started. You can use our links below to find deals on the Hyundai IONIQ 5 and IONIQ 9 near you.
FTC: We use income earning auto affiliate links. More.
Environment
Tesla Semi efficiency improves in real-world trucking test covering 4,494 miles over 3 weeks
The Tesla Semi, Tesla’s electric Class 8 semi-truck, saw its efficiency improve in a new real-world trucking test covering 4,494 miles over three weeks.
The Tesla Semi underwent significant changes over the years of delays.
Tesla officially unveiled the “production version” in 2022, but the vehicle never entered volume production. It is expected to finally happen at the end of the year at a new factory in Nevada.
When unveiling the “production version”, which turned out not to be the final production version, Elon Musk said that the Tesla Semi has an efficiency of 1.7 kWh per mile.
In September 2024, Tesla reported improvements in its own fleet after covering 250,000 miles. It claimed to be achieving 1.6 kWh per mile.
Last year, two Tesla Semi customers got closer to what Musk claimed in 2022. DHL got 1.72 kWh per mile in their own test, and Saia got 1.73 kWh per mile.
Now, Tesla Semi appears to have improved quite a bit in a new real-world test by logistics company ArcBest.
The company claims to have put Tesla Semi through regular operations, varying from lane dispatch to regional runs over three weeks:
Over a three-week period, ABF operated a Tesla Semi across typical dispatch lanes, including over-the-road routes between service centers in Reno, Nevada and Sacramento, California. The pilot also included regional runs in the Bay Area and rail shuttle operations.
ArcBest claims that Tesla Semi averaged 1.55 kWh per mile during the three weeks:
The electric Semi logged 4,494 miles, averaging 321 miles per day with an overall energy efficiency of 1.55 kWh per mile.
Efficiency in the trucking business varies considerably based on several factors, including the load, but it is nonetheless an impressive performance.
Dennis Anderson, ArcBest chief innovation officer, commented on the test program:
“Freight transportation is a vital part of the global economy, and we know it also plays a significant role in overall greenhouse gas emissions. While the path to decarbonization presents complex challenges — such as infrastructure needs and alternative fuel development — it also opens the door to innovation. Vehicles like the Tesla Semi highlight the progress being made and expand the boundaries of what’s possible as we work toward a more sustainable future for freight.”
Tesla says that the truck should enter volume production toward the end of the year and customer deliveries are expected to start next year.
While the efficiency of the electric truck has improved, we previously reported that its price has increased significantly.
FTC: We use income earning auto affiliate links. More.
Range Rover now has its own logo for the first time. The luxury automaker is unveiling a sleek new look as it gears up to launch its first electric SUV later this year.
Range Rover introduces its first logo
Since it launched its first vehicle in 1970, the Range Rover badge has become an iconic status symbol. You can’t miss the classic Range Rover look.
With its first EV due out later this year, the luxury automaker is preparing for a new era. JLR revealed the new Range Rover logo, a first for the luxury automaker, during an investor presentation.
The new logo is a stark contrast to the “Range Rover” badge we are accustomed to seeing, featuring a minimalist design similar to the Rolls-Royce emblem.
JLR told Autocar that the new logo won’t replace the signature Range Rover badge at the front or rear. Instead, it will be used to complement it.
“The Range Rover Motif has been developed as a smaller symbol for where our familiar Range Rover device mark does not fit, such as on a label or as part of a repeating pattern, and within event spaces where an emblem is more appropriate,” the company said.
With Range Rover’s first electric SUV set to hit showrooms later this year, will we see it featured on the new EV? JLR confirmed in May that the Range Rover Electric now has over 61,000 clients on the waitlist.
The company claims the new EV is undergoing “the most intensive testing any Range Rover vehicle has ever endured” ahead of its big debut later this year.
According to Thomas Müller, Range Rover’s executive director of product engineering, the electric SUV is already outperforming some of its top gas-powered models.
JLR has already begun testing new EV production lines at its Solihull, UK, plant in preparation for the new Range Rover model. Next year, the luxury brand is expected to introduce the smaller Sport and Velar EV models.
FTC: We use income earning auto affiliate links. More.
-
Sports3 years ago‘Storybook stuff’: Inside the night Bryce Harper sent the Phillies to the World Series
-
Sports1 year agoStory injured on diving stop, exits Red Sox game
-
Sports2 years agoGame 1 of WS least-watched in recorded history
-
Sports2 years agoMLB Rank 2023: Ranking baseball’s top 100 players
-
Sports4 years ago
Team Europe easily wins 4th straight Laver Cup
-
Environment2 years agoJapan and South Korea have a lot at stake in a free and open South China Sea
-
Sports2 years agoButton battles heat exhaustion in NASCAR debut
-
Environment2 years agoGame-changing Lectric XPedition launched as affordable electric cargo bike