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Georgia Power could raise rates to cover Vogtle construction costs

Georgia Power and the state's Public Service Commission's Public Interest Advocacy staff have agreed to cap how much ratepayers will pay for Plant Vogtle construction costs.

According to Georgia Power, "Average retail rates" would increase by roughly 5%, and "a typical resident customer using 1,000 kWh per month" could see their monthly bill increase by $8.95.

Georgia Power expects its share of the total project to cost roughly $10.2 billion, higher than the nearly $7.3 billion estimate the PSC previously deemed "Reasonable." According to the PSC, the agreement adds $200 million for "Unanticipated" costs stemming from COVID-19, $36 million for ad valorem taxes and $33 million to cover costs for construction monitoring.

According to Georgia Power, Unit 3 entered commercial operation on July 31, while loading fuel into the Unit 4 reactor began on Aug. 17.

"The culmination of construction on this historic project marks the expansion of clean energy production for another 60 to 80 years here in Georgia." Georgia Power owns nearly half of Plant Vogtle.

Oglethorpe Power Corporation, which serves 38 electric membership corporations across Georgia, owns 30%, while the Municipal Electric Authority of Georgia owns 22.7%, and Dalton Utilities owns 1.6%. The PSC only has regulatory authority over Georgia Power.

Georgia Power's parent company, says the plant is crucial to its plan to eliminate greenhouse gas emissions by 2050.. 

https://www.thecentersquare.com/georgia/article_4434cc6c-4776-11ee-a73c-3f80fe421cda.html 

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