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Old 12-17-2017, 06:17 AM
 
6,479 posts, read 7,116,017 times
Reputation: 1970

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Patriotism aside, the Public Service Commission staff calls the new reactors “uneconomic” to complete. Staff made clear that finishing Vogtle as Georgia Power has recommended, with ratepayers shouldering the financial risks, will increase the company’s profit to $5.2 billion, while ratepayers pay an additional $14 billion. And for the first time in 17 semi-annual monitoring reports they recommend against passing costs on to ratepayers for work already completed, to the tune of $489 million.

That’s far from the assessment Georgia Power CEO Paul Bowers gave in the first round of hearings last month.

“Based on all the factors considered, completing both units represents the best economic choice for customers and preserves the benefits of a carbon-free baseload generation for the state of Georgia,” he said.

But the total project costs have doubled and timeline stretched by five years to 2022 since the expansion was first approved. Meanwhile, the PSC’s decision-making schedule shortened, with the panel agreeing to provide a decision on Vogtle’s future on Thursday instead of the original February date to preserve $150 million in tax advantages if the federal tax package is passed and the project is canceled.
Plant Vogtle decision nears as calls to cancel grow | SavannahNow
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Old 12-21-2017, 09:22 AM
 
6,479 posts, read 7,116,017 times
Reputation: 1970
Public service commissioners vote unanimously to complete Plant Vogtle project
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Old 12-21-2017, 09:24 AM
 
Location: Buckhead Atlanta
1,180 posts, read 971,021 times
Reputation: 1727
We would have had to pay either way. Hopefully we can get something refunded.
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Old 12-21-2017, 09:43 AM
 
Location: The South
7,469 posts, read 6,181,778 times
Reputation: 12964
https://finance.yahoo.com/news/georg...153100136.html
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Old 12-21-2017, 11:03 AM
 
423 posts, read 442,699 times
Reputation: 121
In my opinion the government was 100% wrong to put the taxpayers on the hook for this boondoggle.
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