Unneeded nuclear plants

NcdrA.AuSt.71by Bob Farquhar
MACON 1/13/14 — Joe Hubbard’s Dec. 24 letter “Citizens pay the cost” brings to mind one profit-enhancing scheme of Southern Company most people are unaware of. CWIP, or Construction Work In Progress, is a fee levied on electric customers to finance the construction costs of two unproven nuclear reactors at Plant Vogtle near Waynesboro. Georgia Power bills show “Nuclear Construction Cost Recovery” for the 7.6 percent that ratepayers have been forking over since 2009 when the Georgia Legislature and Public Service Commission approved CWIP. So far about $1.5 billion has been collected. CWIP reduces Southern Company’s financial risk for construction, passing it on to ratepayers.

Read the whole article: Macon Telegraph
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