If Starting from Scratch, State Analyst Says Vogtle Nuclear Project Wouldn’t Make Financial Sense
Georgia Power
If Georgia Power started the Plant Vogtle nuclear expansion project from scratch, a state financial analyst says it wouldn’t make financial sense for ratepayers.
Phillip Hayet testified today before the Georgia Public Service Commission and said if the state was starting over, it’d be a better deal to build natural gas plants.
Hayet, however, said it’s still cheaper in most scenarios to finish the nuclear plant rather than have Georgia Power halt the project.
Commissioner Tim Echols agrees.
“Our staff has done a number of scenarios in whether the project goes a year over, two years, three years, even four years, and they still show it to be cost effective, so I think this is something we need to continue with,” said Echols.
The project is currently about a billion dollars over budget and at least 18 months behind schedule.
Earlier this year, Georgia Power requested raising the state-approved construction budget by $737 million, but it recently withdrew that request as part of a tentative agreement with PSC staff. Commissioners say they’ll revisit the cost overruns after Georgia Power has spent its total approved sum for the project, currently set at $6.1 billion.
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