by Dave Williams
ATLANTA 3/20/18: Utilities building future nuclear power plants in Georgia will not be able to collect financing costs from ratepayers before the projects are completed without the approval of the General Assembly.
The Georgia House of Representatives unanimously passed a bill containing that provision on Wednesday. The measure already had passed the Senate overwhelmingly late last month.
The original version of the legislation introduced into the state Senate in January was aimed at Georgia Power Co.’s nuclear expansion at Plant Vogtle. It would have prohibited the Atlanta-based utility from continuing to recover financing costs associated with the long delayed, over-budget project after the original timetable for completing the work had arrived.
Since the original completion dates for two additional nuclear reactors being built at the plant south of Augusta, Ga., have passed, the measure effectively would have repealed the nuclear “tariff” Georgia Power collects on customer bills each month.
However, Senate Finance Committee Chairman Chuck Hufstetler, R-Rome, the bill’s chief sponsor agreed to remove Plant Vogtle from the legislation as a condition to getting it through the Senate Regulated Industries and Utilities Committee.
As a result, the final version of the bill applies only to any future nuclear plants Georgia Power or any other utility may contemplate building in Georgia. The legislation now goes to Gov. Nathan Deal.
Read the whole article: Atlanta Business Chronicle