nuclear-news

Nuclear company moves to ensure that consumers cop their building cost overruns

Consumer, not Georgia Power, would be on hook for potential Vogtle overruns, By Kristi E. Swartz , The Atlanta Journal-Constitution, 28 July 11, At an energy committee meeting in their downtown Atlanta chambers, Public Service Commission members said they would support only a July 18 deal reached between Georgia Power and the PSC’s advocacy staff, one that removed a recommendation calling for Georgia Power’s profits to be reduced should the costs to build two nuclear reactors at Plant Vogtle exceed budget by $300 million. Additional costs, with PSC approval, would show up in customers’ monthly utility bills.

A consumer watchdog group on Thursday continued to press for an agreement that would make Georgia Power — and not consumers — pay for any major cost overruns at its Plant Vogtle nuclear expansion project, but Georgia utility regulators remained resistant. ….

Commissioner Tim Echols was more pointed, saying approval for such a plan would “chill the construction of nuclear plants in the United States.”

Attorney Clare McGuire for Georgia Watch argued that consumers would be left with no protection against bill increases should the project go beyond its budget.  “Georgia Power doesn’t want to be held to costs beyond its control,” McGuire said. “The ratepayers have no choice.”….http://www.ajc.com/business/consumer-not-georgia-power-1055562.html

—

July 29, 2011 - Posted by Christina Macpherson | business and costs, USA