Regulators Approve Lower Costs for Georgia Power's New Nuclear Reactors, But Electric Bills Still Set to Rise

The Georgia Public Service Commission has unanimously approved a 6% rate increase to cover the remaining $7.56 billion in costs for Georgia Power Co.'s Plant Vogtle, which includes the construction of two new nuclear reactors. The rate increase is expected to add $8.95 per month to a typical residential customer's bill. The approval marks the final accounting for Georgia Power's portion of the project, which is projected to cost a total of $31 billion. The reactors, Units 3 and 4, are the first new American reactors built in decades and are expected to begin commercial operation in March. Critics argue that the high cost of the project may discourage utilities from pursuing nuclear power.