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Shareholders of Georgia Power Co now at greater risk for Vogtle nuclear station’s escalating costs?

 Shareholders of Georgia Power Co. may be at more risk of shouldering the
utility’s share of cost overruns for the two new nuclear reactors being
built at Plant Vogtle. The Georgia Public Service Commission on Tuesday
approved an agreement between the unit of Atlanta-based Southern Co. and
commission staff that says the commission won’t agree that any expenses
above a $7.3 billion cap imposed in 2017 are “reasonable” until the end
of the project. “Since the company has exceeded the approved revised
capital cost of $7.3 billion, it is no longer appropriate for the
commission to verify and approve the dollars invested in the project,”
states the agreement approved by all five commissioners.

 News & Observer 17th Aug 2021

https://www.newsobserver.com/news/business/article253546369.html

August 19, 2021 - Posted by | business and costs, USA

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