All articles tagged with #georgia power
Originally Published 23 days ago — by AJC.com
The Georgia Public Service Commission approved Georgia Power's $16 billion plan to expand its power fleet with new gas plants and infrastructure to support data centers, aiming to keep rates low but raising concerns about long-term costs, environmental impact, and financial risks for residential customers.
Originally Published 1 year ago — by The Associated Press
Georgia Power Co. announced that vibrations in the cooling system of its second new nuclear reactor at Plant Vogtle will delay the unit's commercial operation until the second quarter of 2024. The utility faces potential profit losses and extra construction costs due to the delay, with regulators imposing restrictions on additional returns. The total cost of the Vogtle reactors is projected to near $35 billion, significantly higher than the initial estimate, raising concerns about the economic viability of pursuing nuclear power.
Originally Published 2 years ago — by FOX 5 Atlanta
Georgia Power customers will see their energy bills increase again as the utility company brings two new nuclear reactors online. State regulators have approved a plan allowing Georgia Power to pass the $10 billion cost overrun for the reactors at Plant Vogtle onto consumers. This comes on top of rate hikes implemented earlier this year, with customers now shouldering $8 billion of the total cost. Starting next spring, the average customer's energy bill will increase by 5%, reaching approximately $8.95 per month. Critics argue that these continuous price hikes are unreasonable and will burden many Georgians already struggling with rising costs.
Originally Published 2 years ago — by The Atlanta Journal Constitution
The Georgia Public Service Commission (PSC) has approved a plan that will pass most of the costs for the completion of Plant Vogtle's two new nuclear reactors onto Georgia Power customers. The decision allows Georgia Power to charge ratepayers for $7.56 billion of the $10.2 billion expected to be spent on the project, resulting in another rate increase of about 6% for residential customers. The approval comes after years of budget overruns and delays, with the total cost of the project now estimated at $35 billion. Critics argue that ratepayers would have been better served by investing in natural gas plants instead.
Originally Published 2 years ago — by The Associated Press
The Georgia Public Service Commission has unanimously approved a 6% rate increase to cover the remaining costs of Georgia Power Co.'s Plant Vogtle nuclear reactors, amounting to $7.56 billion. The rate increase is expected to add $8.95 per month to a typical residential customer's bill and will take effect once Unit 4 begins commercial operation, projected for March. The total cost of the project, including previous cost overruns and payments from the original contractor, is estimated to be around $35 billion. The approval comes after years of debate and could potentially discourage utilities from pursuing nuclear power due to the high costs involved.
Originally Published 2 years ago — by WRDW
The Georgia Public Service Commission has unanimously approved a rate increase for Georgia Power customers to help the utility recover costs for the new units at Plant Vogtle. The rate hike, previously negotiated between the commission's staff and Georgia Power, will cover the utility's share of $10.2 billion in construction costs for Units 3 and 4 at the nuclear power plant. The project, which is seven years late and billions over budget, has a total cost of $31 billion for Georgia Power and three other owners. The rate increase will take effect when Unit 4 goes into operation in the first quarter of 2024. The agreement also expands Georgia Power's Income Qualified Senior Discount to include more households.
Originally Published 2 years ago — by WTVC
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.
Originally Published 2 years ago — by The Atlanta Journal Constitution
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.
Originally Published 2 years ago — by The Atlanta Journal Constitution
The first of two new nuclear reactors at Plant Vogtle in Georgia, Unit 3, has officially entered commercial service, marking the first new nuclear reactor built from scratch in the U.S. in over 30 years. The reactor can produce 1,100 megawatts of electricity, enough to power around 500,000 homes and businesses. While the completion of Unit 3 is a significant milestone for the country's nuclear industry, the project has faced delays and cost overruns. Unit 4 is expected to be finished by the end of Q1 2024. The Vogtle expansion aims to provide carbon-free electricity to meet Georgia's growing energy consumption and support the state's clean energy manufacturing projects.
Originally Published 2 years ago — by ABC News
The first new U.S. nuclear reactor to be built from scratch in decades, Unit 3 at Plant Vogtle in Georgia, has entered commercial operation after seven years of delays and $17 billion in cost overruns. The reactor can power 500,000 homes and businesses, but its high construction costs have raised concerns about its viability as a path to a carbon-free future. A fourth reactor at the site is nearing completion. While some utilities and government officials are looking to nuclear power to combat climate change, the focus is shifting towards smaller reactors to avoid the cost and schedule overruns experienced at Plant Vogtle. Georgia Power's customers will bear the financial burden, with residential customers projected to pay over $926 each. Critics argue that solar and wind power would be cheaper alternatives. The utility has yet to determine how much customers will be asked to pay for the remaining costs.
Originally Published 2 years ago — by NBC News
The first new American nuclear reactor built from scratch in decades, Unit 3 at Plant Vogtle in Georgia, has entered commercial operation, providing electricity to utilities in Georgia, Florida, and Alabama. With a capacity to power 500,000 homes and businesses, the reactor marks a significant step towards achieving a clean energy future. A fourth reactor at the site is nearing completion, with radioactive fuel expected to be loaded before the end of September. The project, originally estimated to cost $14 billion, is now on track to cost $31 billion, excluding the $3.7 billion paid by Westinghouse to walk away from the project.
Originally Published 2 years ago — by The Associated Press
Unit 3 at Plant Vogtle, a nuclear power plant in Georgia, has entered commercial operation, marking the first new American reactor built from scratch in decades. The reactor can generate 1,100 megawatts of electricity, enough to power 500,000 homes and businesses. With the addition of Unit 3, nuclear power now accounts for about 25% of Georgia Power's generation. A fourth reactor at the site is nearing completion, and the Nuclear Regulatory Commission has approved the loading of radioactive fuel into Unit 4. The project, originally estimated to cost $14 billion, is now expected to reach $35 billion. The completion of these reactors is seen as a step towards achieving a clean energy future and reducing reliance on fossil fuels.
Originally Published 2 years ago — by WSB Atlanta
Unit 3 at Plant Vogtle in Georgia has reached its full output of 1,100 megawatts of electricity, enough to power an estimated 500,000 homes and businesses. The reactor is scheduled to enter commercial operation within the next month. The fourth reactor has finished a key testing phase and is expected to reach commercial operation between December and March 2024. Georgia Power owns 45.7% of the reactors, and almost every electric customer in Georgia will pay for Vogtle. The cost of the third and fourth reactors is now on track to cost the owners $31 billion.
Originally Published 2 years ago — by The Associated Press
Unit 3 at Plant Vogtle in Georgia has reached its full output of 1,100 megawatts of electricity, enough to power an estimated 500,000 homes and businesses. The reactor is scheduled to enter commercial operation within the next month. The fourth reactor is expected to reach commercial operation between December 2023 and March 2024. Georgia Power owns 45.7% of the reactors, and almost every electric customer in Georgia will pay for Vogtle. The cost of the third and fourth reactors is now on track to cost the owners $31 billion.
Originally Published 2 years ago — by The Atlanta Journal Constitution
The first of two new nuclear reactors at Plant Vogtle in Georgia has reached 100% power, signaling that it could begin sending electricity out to Georgia homes in a matter of days. The unit is expected to begin delivering power in June. Once complete, the two units will produce enough electricity for 500,000 homes and businesses without contributing planet-warming greenhouse gas emissions. However, the total price tag for the project has climbed to more than $35 billion, more than double the company’s initial forecast, and additional rate hikes to pay for the units are likely.