The Georgia Public Service Commission has signed off on the latest round of spending for Georgia Power’s nuclear expansion project at Plant Vogtle near Augusta.
The approval covers Georgia Power’s incurred project costs during the first half of 2012.
However, given project setbacks, commissioners requested Georgia Power begin drafting contingency plans in the event of 24, 36, and 48-month delays.
Georgia Power spokesman Mark Williams says ratepayers shouldn’t worry about the economic benefit of the two new nuclear reactors, even if there is a delay.
“They have up to a 60-year lifespan. They represent billions in economic value to our customers under any scenario you look at.”
Georgia Power officials say the reactors are currently about six months behind schedule. But a state inspector has said the delay is more like 15 months.
Meanwhile, Georgia Power and its contractors are currently disputing about a billion dollars of cost overruns, some of which could be passed down to ratepayers.
Since 2011, Georgia Power customers have been paying a monthly fee to pay for the company’s $6.1 billion dollar share of the nuclear project.
The PSC reviews formal spending reports on the $14 billion project twice a year. The filing for Georgia Power’s next round of spending – which covers the second half of 2012 – is due next week.
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