spot_imgspot_img

Georgia Power could raise rates to cover Vogtle construction costs

(The Center Square) — 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.

The deal caps the recovery costs for Plant Vogtle’s Units 3 and 4 — the “first newly constructed nuclear units” built in the country in more than three decades — at more than $7.5 billion. 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.

PSC commissioners must approve the deal, and officials expect to release a schedule of hearings shortly.

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. Unit 4 could enter service by either the end of the year or early next year.

“With the semiannual Vogtle Construction Monitoring reports and the countless hours of analysis on this project, I assume there has been more evidence presented in this docket than in any docket in PSC history,” Chairman Jason Shaw said in an announcement. “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 (45.7%) 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.

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

DON’T MISS OUT

Be the first to know about the latest news, giveaways, events, and updates from The Black Chronicle!

We don’t spam! Read our privacy policy for more info.

spot_imgspot_img
spot_img

Hot this week

African and Caribbean Nations Call for Reparations for Slave Trade, Propose Global Fund

Nations across Africa and the Caribbean, deeply impacted by...

Health care company agrees to pay $22.5 million to settle claims of over billing

A health care company agreed to pay nearly $22.5...

Sports betting expert offers advice on paying taxes for gambling winnings

(The Center Square) – Tax season is underway, and...

Entertainment district benefits don’t outweigh the cost, economists say

(The Center Square) — Weeks later, after more details...

Business association ‘disappointed’ by WA L&I’s proposed workers comp rate hike

(The Center Square) – The Association of Washington Business...

Browns will move to Brook Park, Cleveland mayor says

(The Center Square) – The Cleveland Browns plan to...

Environmental agency suggests monitoring systems to detect air pollution

(The Center Square) — The Community Air Monitoring and...

Ruling on Illinois’ gun ban expected sometime after Monday

(The Center Square) – A ruling on whether Illinois’...

Nearly $10M spent in U.S. House District 14

(The Center Square) – In Georgia’s 14th Congressional District,...

Colorado lawmakers oppose increased federal control over National Guard

(The Center Square) - A bipartisan group of 124...

Lawmaker flags Sedona firearms ordinance ‘enforceability’

(The Center Square) – Arizona Rep. Quang Nguyen, R-Prescott...

Arizona tutoring program available until end of school year

(The Center Square) – The Arizona Department of Education's...

More like this
Related

Browns will move to Brook Park, Cleveland mayor says

(The Center Square) – The Cleveland Browns plan to...

Environmental agency suggests monitoring systems to detect air pollution

(The Center Square) — The Community Air Monitoring and...

Ruling on Illinois’ gun ban expected sometime after Monday

(The Center Square) – A ruling on whether Illinois’...

Nearly $10M spent in U.S. House District 14

(The Center Square) – In Georgia’s 14th Congressional District,...