Construction costs for Georgia Power’s nuclear Plant Vogtle continue to rise as the project is now more than five years behind schedule and the cost has nearly doubled to almost $26 billion. Due to 2009 legislation allowing Georgia Power to collect project financing costs during construction, customers have already paid close to $2.5 billion – nearly half of which is the Company’s profit.
We strongly support this legislation. Though the bill stalled in the Senate Regulated Industries and Utilities Committee, we will continue to highlight the prolific cost overruns and address the financing method, known as the “Nuclear Construction Cost Recovery” tariff, and its impact on captive ratepayers.
Past Georgia Legislation: During the 2017-18 session, Senator Tippins and Senator Hufstetler introduced SB 393 to exempt public schools from paying the Nuclear Construction Cost Recovery Tariff on their power bills.