Georgia energy regulators unanimously approved a plan Tuesday to let Georgia Power pass on to customers almost $7.6 billion of its costs in building two additional nuclear reactors at Plant Vogtle.
The Atlanta-based utility agreed in August to reduce the costs it was asking the state Public Service Commission (PSC) to declare 'reasonable and prudent' by about $2.6 billion after years of delays and cost overruns that more than doubled the price tag from the $14 billion the commission authorized back in 2009.
The first of the new reactor units at the plant south of Augusta went into service at the end of July. The second is due to follow by the end of March. The project will increase the average residential customer's bill by $8.95 per month.
“The Vogtle ... nuclear expansion project represents a long-term investment for our 2.7 million customers and Georgia, providing clean, safe, reliable, and emission-free energy for decades to come,” Georgia Power added in a statement.
“We believe this decision by the Georgia PSC acknowledges the perspectives of all parties involved and takes a balanced approach the recognizes the value of this long-term energy asset for the state of Georgia and affordability needs for customers.”
Representatives of environmental and consumer advocacy groups that signed onto the agreement with Georgia Power pointed to the company's commitment to significantly expand its energy efficiency programs and increase the number of seniors who will qualify for its bill-relief program.
“After Vogtle, we hope the commission will double down on their support of cost-saving renewable options like solar and battery storage.” Georgia Power is a 45% partner in the Vogtle expansion, working with Oglethorpe Power, the Municipal Electric Authority of Georgia (MEAG), and Dalton Utilities.