5:08 am August 3, 2011, by Henry Unger
The public will be on the hook if there are cost overruns at Georgia Power’s nuclear expansion project, AJC writer Kristi Swartz reports.
Georgia utility regulators agreed Tuesday to scrap a proposal that would have eaten into Georgia Power’s profits should the project costs exceed $300 million, Swartz writes.
The Georgia Public Service Commission unanimously approved the plan after making sure the commissioners could review previously approved project costs if there is a budget increase. Customers would pay for cost overruns in their monthly bills unless the PSC determines the overruns are Georgia Power’s fault, Swartz reports.
Georgia Power is part of a group of utilities building two nuclear reactors at Plant Vogtle. The utility is responsible for $6.1 billion of the estimated $14 billion project, Swartz writes.
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– Henry Unger, The Biz Beat
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