Vogtle vote takes pressure off Georgia Power | The Augusta Chronicle

4
Sep

Vogtle vote takes pressure off Georgia Power | The Augusta Chronicle

Geor­gia’s Public Service Com­mis­sion unanimously approved a deal that will put off a decision on whether Georgia Power can raise its budget for building two more nuclear reactors at Plant Vogtle until the first is finished. An independent state monitor has estimated the first reactor will be finished in January 2018 at the earliest.

Regulators will continue monitoring company spending but will not make a decision on raising the bottom line budget figure.

Southern Co. subsidiary Geor­gia Power asked state regulators in February to raise its construction budget by $737 million to $6.85 billion. Georgia Power owns a roughly 46 percent stake in the new reactors. The other owners include Oglethorpe Power Corp., the Municipal Electric Authority of Georgia and the city of Dalton.

The budget request created a dilemma for regulators. If Georgia Power exceeds its state-approved budget of roughly $6.1 billion, then the utility has the burden of convincing regulators that the extra spending should be passed along to its customers. But if the commission had voted to increase the budget now, then the utility would be allowed under state law to charge its customers for the extra costs unless state regulators could prove the spending was reckless or the result of fraud.

via Vogtle vote takes pressure off Georgia Power | The Augusta Chronicle.

Comments ( 0 )