PSC taking another look at Vogtle finances

Monday, Aug 1, 2011 5:15 AM
Last updated 5:20 AM
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ATLANTA — Utility regulators in Georgia are expected to decide this week whether to trim the profits of Georgia Power if the cost of building a new nuclear power plant proves more expensive than expected.

Members of the Public Service Commission are scheduled to meet Tuesday to decide an issue that is potentially worth hundreds of millions of dollars as the subsidiary of the Atlanta-based Southern Co. seeks permission to build two more reactors at Plant Vogtle near Augusta.

PSC staffers had urged the commissioners to adopt a plan that would increase the utility's profits if it completed the project under budget and cut its profits if it exceeded the budget. But a joint agreement between the PSC staff and the utility now calls for ditching that financial risk-sharing plan.

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Taylor B
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Taylor B 08/01/11 - 02:30 pm
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They dont have the guts to do

They dont have the guts to do it...

Little Lamb
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Little Lamb 08/01/11 - 02:46 pm
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The trouble with setting up

The trouble with setting up penalties based upon a long-term projection of the cost of a new nuclear plant is that no one (least of all Georgia Power) can predict long-term inflation. Bernanke and the Fed have pumped trillions of dollars into the economy without a corresponding increase in production of goods - - - so the piper must be paid some day. The result will be price inflation (with or without corresponding wage inflation). This coming inflation caused by printing U.S. dollar bills (or, as Jed Clampett said, those funny kind of dollars, called "million" dollars) is an uncertainty that Georgia Power cannot plan for in its projections.

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