Power Breakfast: Public responsible for nuke cost overruns, airport worker dies, debt deal, Equifax, Primerica
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.
Also in the AJC:
- Metro Atlanta businesses still wary after debt deal
- Worker dies at Hartsfield-Jackson
- Stockbridge firm cited by OSHA in worker’s death
- New center helps bring medical technology to market
- Equifax buys DataVision Resources
- Primerica profit climbs in second quarter
In other media:
- Spending cuts seen as a step, not a cure
- Deficit battle shifts to panel
- Moody’s backs U.S. triple-A rating, but outlook is negative
- Stocks on long losing streak as economy weakens
– Henry Unger, The Biz Beat
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3 comments Add your comment
Obama
August 3rd, 2011
6:30 am
The stimulus is working…just look at the S&P 500 and the unemployment rate! I am doing a great job.
overrun
August 3rd, 2011
7:08 am
“The public will be on the hook if there are cost overruns at Georgia Power’s nuclear expansion project, AJC writer Kristi Swartz reports.”
Novel idea: make the inefficient contractor liable for all cost overruns. The problem will be eliminated immediately.
Buzz G
August 3rd, 2011
8:07 am
Why does this bother you, Henry? Americans are on the hook for $14.5 trillion federal debt, untold debt held by GSE’s Fannie Mae and Freddie Mac, untold debt owed by the PBGBC, the FDIC, and worst of all, a large but unknown college student debt either guaranteed by or outright owned by the Federal Government. Any cost overruns on the power plant will be insignificant when compared to all these. But none of them bother Henry. He does not even see them or talk about them. Debts run up by the government putting us on the road to “social justice” just don’t count to Henry or the AJC.