ATLANTA (AP) — Utility regulators in Georgia are expected to decide this week whether to trim the profits of Georgia Power if the cost of building a new nuclear power plant proves more expensive than expected.
Members of the Public Service Commission are scheduled to meet Tuesday to decide an issue that is potentially worth hundreds of millions of dollars as the subsidiary of the Atlanta-based Southern Co. seeks permission to build two more reactors at Plant Vogtle near Augusta.
PSC staffers had urged the commissioners to adopt a plan that would increase the utility's profits if it completed the project under budget and cut its profits if it exceeded the budget. But a joint agreement between the PSC staff and the utility now calls for ditching that financial risk-sharing plan.
(Copyright 2011, The Associated Press)