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OKIsItJustMe

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8. State regulators pass along $7.6B tab to ratepayers for Georgia Power's Plant Vogtle
Fri Jan 12, 2024, 01:45 AM
Jan 2024
https://georgiarecorder.com/2023/12/19/state-regulators-pass-along-7-6b-tab-to-ratepayers-for-georgia-powers-plant-vogtle/
State regulators pass along $7.6B tab to ratepayers for Georgia Power’s Plant Vogtle
BY: STANLEY DUNLAP - DECEMBER 19, 2023 4:12 PM

The story was updated at 10 am on Dec. 20 with a statement from Georgia Power

Georgia Power ratepayers will be responsible for a $7.6 billion bill for the construction of two nuclear reactors built during the long-delayed expansion at Plant Vogtle located southeast of Augusta.

The financial agreement for the nuclear project boondoggle was approved Tuesday by the Georgia Public Service Commission. It calls for the utility company to cover at least $2.6 billion of an expected $10 billion in construction and capital costs spent on the Vogtle project. State regulators signed off on terms outlined in a stipulated agreement reached in August between Georgia Power, PSC advocacy staff, the Georgia Association of Manufacturers and consumer and watchdog advocacy organization Georgia Watch, and the Georgia Interfaith Power & Light and Partnership for Southern Equity.

Vogtle has remained a major source of contention as costs ballooned to $35 billion, more than double the price initially forecast for a project that’s taken 14 years to complete. The two Vogtle units are the first nuclear reactors to be built in the United States in more than 30 years, and is the latest in a series of rate increases Georgia Power customers will continue to bear in the coming months.

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