Costs have doubled to $28.5B for Plant Vogtle’s 2 new units
WAYNESBORO, Ga. - The cost of the two nuclear reactors being built at Plant Vogtle is now $28.5 billion — more than twice the original price tag of $14 billion.
Georgia Power Co. has triggered an agreement requiring it to shoulder up to $350 million more in costs, the other owners of the plant say.
Georgia Power disagrees, but is in talks with cooperative and municipal utilities. The company’s share of Vogtle is now $12.7 billion, an increase of $264 million.
Opponents have long warned that overruns would be sky-high.
The company and regulators insist the first new U.S. reactors in decades are the best source of clean and reliable energy for Georgia.
Units 3 and 4 have been under construction in recent years at the nuclear power plant near Waynesboro. Units 1 and 2 have been in operation for decades.
Georgia Power and Georgia Public Service Commission staffers have tentatively agreed to a rate increase of about $4 a month for electric customers as a way to pay for the new units.
The rate increase would begin after the first of the new reactors begins operation next year.
A separate $157 million rate hike is scheduled to begin Jan. 1.
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