Georgia Power tallies Vogtle costs at $3.6 billion, unanimously approved by PSC

The 15th Vogtle Construction Monitoring report was unanimously approved Tuesday, bringing total construction costs borne by Georgia Power Co. to about $3.68 billion for construction of Units 3 and 4.

 

The report was filed in August and has gone through processes that included hearings and testimony from interested parties. The report encompassed expenditure reports for the first half of 2016, totaling more than $140 million. The Georgia Public Service Commission unanimously approved the report.

According to a PSC news release, “This decision is not a ruling on whether the expenditures are reasonable and prudent but only acknowledges that the Company has spent the funds on the project.”

Said Georgia Power spokesman Jacob Hawkins: “We’re pleased with today’s unanimous vote to approve the latest VCM progress report for the Vogtle nuclear expansion.

The PSC said the costs remained within its certified construction costs. Recent reports from several utility driven media outlets said Vogtle construction likely won’t meet its 2020 deadline, a claim that Georgia Power denies.

“Georgia Power has previously indicated that the construction schedule for Vogtle 3 and 4 faces challenges,” Hawkins said. “However, the work we are seeing by the contractor on the site is indicative of their commitment to fulfilling their obligations under our contract. Our expectation remains that the contractor will be able to complete the construction of both units by December 31, 2020, as noted in the contractor settlement agreement finalized with the Georgia PSC in December.”

In the release, PSC Chairman Stan Wise highlighted the project’s progress.

“The Plant Vogtle project continues to make progress despite well-publicized setbacks,” he said. “I believe that in the long run this project, when completed, will provide reliable, stable and carbon free electricity for many generations of Georgians.”

The combined effort of the two AP1000 reactors in Units 3 and 4 will have the capacity to power 500,000 homes.

In 2009, the PSC certified Georgia Power’s share of the overall cost at more than $6.1 billion. Georgia Power owns a little less than 48 percent of Vogtle, with partners Oglethorpe Power Corp., Municipal Electric Authority of Georgia and the city of Dalton’s Utilities Department making up the rest. The Vogtle Construction Monitoring report includes only Georgia Power’s costs during that time.

Reach Thomas Gardiner at (706) 823-3339 or thomas.gardiner@augustachronicle.com.

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