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Posted: 1:04 PM Aug 26, 2008
TVA contractor get bonuses despite budget overrun
The Tennessee Valley Authority agreed to pay $42 million in bonuses and other fees to contractors for work on the Browns Ferry reactor restart that ran $90 million over budget.
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CHATTANOOGA, Tenn. (AP) -- The Tennessee Valley Authority agreed to pay $42 million in bonuses and other fees to contractors for work on the Browns Ferry reactor restart that ran $90 million over budget.
With TVA rates about to increase by 20 percent, the directors agreed to pay Bechtel Power Corp. and Stone and Webster Construction Inc. $15.5 million each, plus another $11.3 million in fees to settle a legal dispute.
A leader of the anti-nuclear group known as the Bellefonte Efficiency and Sustainability Team told the Chattanooga Times Free Press that the payment of bonuses on a project that was over budget raises questions.
The contractors initially sought an additional $76 million in performance bonuses. TVA had said the contractors were due only $24 million in bonuses.
TVA Senior Vice President Ashok Bhatnagar said last week that the $42 million "is a fair settlement."
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(Copyright 2008 by The Associated Press. All Rights Reserved.)
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