Shareholders of Georgia Power Co. may be at more risk of shouldering the utility’s share of cost overruns for the two new nuclear reactors being built at Plant Vogtle.
The Georgia Public Service Commission on Tuesday approved an order saying the commission won't agree that any expenses above $7.3 billion are “reasonable” until the end of the project. The move reduces Georgia Power’s legal assurance that it will get the money back from ratepayers. Its share of construction costs is already projected to be $9.2 billion, with another $3.2 billion in financing costs. Overall spending at Vogtle for all owners is projected to surpass $27.8 billion
