On the heels of public hearings earlier than the Georgia Public Service Commission (PSC) on Georgia Power’s controversial $2.2 billion rate increase request, the “Elephant in the Room” will probably be in the highlight: the over funds, more than 5 yr delayed Plant Vogtle nuclear enlargement. The PSC will maintain a hearing this Tuesday for Georgia Power witnesses to testify about the project’s standing in the mixed 20th/21st semi-annual Vogtle Construction Monitoring (VCM) continuing.
In the 19th VCM, accredited final February, the Commission determined to mix the subsequent two reporting intervals, which SACE and others opposed, and as predicted, Georgia Power has since spent rather a lot on the mismanaged nuclear project. The Company is now asking for verification and approval of $1.248 billion in expenditures. And that’s simply for Georgia Power’s 45.7% share of the prices incurred throughout the reporting interval from July 2018 to June 2019 for the two new AP1000 reactors beneath building at Plant Vogtle close to Waynesboro, alongside the Savannah River.
The persevering with saga is sort of a damaged report in every of those VCM proceedings, and it stays largely the identical upon studying Georgia Power’s report and the witnesses’ written testimony, which will probably be mentioned earlier than the Commission on Tuesday.
The project (once more) isn’t assembly the productiveness targets and seems to be falling additional delayed, however Georgia Power stays assured (once more) that they are going to one way or the other have Unit 3 on-line by November 2021 and Unit 4 by November 2022. Remember, these reactors had been imagined to each be operational by April 2017!
And (once more) Georgia Power offers itself an out, pointing (once more) to a large number of potential “challenges” in the months forward that would impression the schedule and most significantly final prices to the utility prospects. Because of constant delays and mismanagement, the at the moment-projected complete value of this project has more than doubled from the unique $14.1 billion estimate to over $28 billion.
Georgia Power prospects involved about their utility payments ought to let the Commission know that not solely are they apprehensive about how the proposed rate hike will affect their bills, however are additionally very involved about what occurs when the different shoe drops – when Plant Vogtle’s final budget-busting price tag will get rolled into buyer’s electrical energy charges.
This weblog submit was written by Sara Barczak, SACE guide and former Regional Advocacy Director.