All articles tagged with #georgia public service commission
Democrats Peter Hubbard and Alicia Johnson won key seats on Georgia's Public Service Commission, marking the first statewide Democratic wins since 2006 and signaling a shift in energy policy focus towards affordability and clean energy, amid concerns over rising utility costs and outside spending influence.
Two Democratic candidates for Georgia Public Service Commission are headed to a runoff, while Republican incumbent Tim Echols easily won his primary; the election reflects ongoing debates over utility rates and regulation in Georgia.
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.
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.
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.
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.