Georgia Regulators Approve Rate Hike for Plant Vogtle Nuclear Expansion
Georgia regulators have approved a rate hike for the Plant Vogtle nuclear expansion project. The decision was made on Monday, December 20, 2023, and marks the end of a long legal battle that began in 2019.
Background
The Plant Vogtle nuclear expansion project is a joint venture between Georgia Power, Oglethorpe Power, MEAG Power, and Dalton Utilities. The project involves the construction of two new nuclear reactors at the existing Plant Vogtle site in Burke County, Georgia. The project has been plagued by cost overruns and delays, with the estimated cost of the project ballooning from $14 billion to over $28 billion.
Rate Hike Approval
The Georgia Public Service Commission approved a rate hike for Georgia Power customers to help cover the cost of the Plant Vogtle nuclear expansion project. The rate hike will take effect on January 1, 2024, and will increase the average residential customer’s bill by approximately $9 per month.
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Impact on Customers
The rate hike has been met with criticism from some Georgia Power customers, who argue that they should not be forced to pay for the cost overruns and delays associated with the Plant Vogtle nuclear expansion project. However, supporters of the project argue that the expansion will provide much-needed energy to the state of Georgia and will create jobs in the region.
Conclusion
The approval of the rate hike for the Plant Vogtle nuclear expansion project is a significant development in the ongoing legal battle over the project. While the rate hike has been met with criticism from some Georgia Power customers, supporters of the project argue that it will provide much-needed energy to the state and will create jobs in the region. It remains to be seen how the project will progress in the coming years, but the approval of the rate hike is a step forward for the expansion.
