Georgia Power to finalize Vogtle assessments by end of August
Friday, Aug. 4, 2017
ATLANTA, Ga. (WRDW/WAGT) – Georgia Power expects to complete its comprehensive schedule and cost-to-complete assessment, as well as cancellation cost assessment, for the Vogtle nuclear expansion by the end of the month.
The final recommendation is expected to be filed with the Georgia Public Service Commission (PSC) as part of the 17th Vogtle Construction Monitoring (VCM) Report. Once submitted, Georgia Power will work with the Georgia PSC to determine the best path forward for customers.
Southern Company, the parent company of Georgia Power, announced second quarter earnings for 2017 on Wednesday. Included in the quarterly earnings materials were preliminary estimates for the Vogtle project from Georgia Power’s ongoing analysis. According to preliminary estimates, Georgia Power’s estimated capital costs for the new units at Plant Vogtle could increase from $5.7 billion previously approved by the Georgia PSC to a range of $6.7 billion to $7.4 billion.
Financing costs for Georgia Power’s share of the project could increase from previous projections of $2.3 billion to an estimated range of $3.1 billion to $3.5 billion.
Construction work continues at the Vogtle nuclear expansion under a new service agreement with Westinghouse while Georgia Power’s assessments, as well as assessments by Oglethorpe Power, MEAG Power and Dalton Utilities, are finalized.