Settlement Reached on Georgia Power's Vogtle Costs, Saving Customers Billions

Georgia Power, the Georgia Public Service Commission (PSC) staff, and consumer advocacy groups have reached a tentative agreement that could pass $7.6 billion in remaining costs for the Plant Vogtle expansion on to ratepayers. The agreement, which still needs approval from the PSC commissioners, would allow Georgia Power to collect the outstanding construction costs from customers, with shareholders covering the rest. The average residential customer could see their bills increase by almost $9 per month, and rate hikes would likely remain in place until at least 2025. The final vote on the cost allocation is expected to take place after prudency hearings in the coming months.