6/11/17: Since 2009, Georgia Power customers have been paying up front for construction costs at the Plant Vogtle nuclear expansion.
Some public entities will have paid more than $1 million for construction before a single kilowatt hour of energy is generated by the expansion.
Georgia Power extended its interim agreement with Westinghouse by 24 hours recently to give the two companies time to finalize a transition agreement as the utility company takes over in the wake of the Westinghouse bankruptcy. That bankruptcy was fueled by cost overruns at the Plant Vogtle and VC Summer nuclear expansion projects.
According to legislation passed in 2009, Georgia Power shall collect costs related to nuclear construction financing and interest to support the plant’s construction, even though the project failed to meet its operational deadline in 2016.
Read the whole article: Savannah Morning News