Georgia Power has signed a proposed agreement with Georgia Public Service Commission staff and several intervening parties on the total amount the utility can recover from ratepayers for the remaining costs of the Vogtle Units 3 and 4 nuclear expansion. If the commissioners adopt the deal, it would resolve all issues in the project's prudency review.
The agreement marks a step toward closing the financial chapter on the largest nuclear construction project in recent U.S. history. Vogtle Units 3 and 4 are Westinghouse AP1000 reactors at the plant near Waynesboro, Georgia, and they represent the first newly built commercial reactors completed in the country in decades.
Nuclear now anchors a significant share of Georgia Power's generation. The utility's 2024 generation sources included natural gas at 44%, nuclear at 34%, coal at 19%, and hydro and other sources at 3%, with total plant nameplate capacity of 14,789 megawatts at the end of 2024. The Vogtle expansion lifted the nuclear share and added long-lived, around-the-clock output to the state grid.
Georgia Power is a wholly owned subsidiary of Southern Company, engaged in the generation, transmission, distribution, and sale of electricity across the state. The Vogtle units provide a steady source of generation as the company plans for rising electricity demand tied to economic growth and large industrial load.
The cost recovery settlement, if approved, would give ratepayers and the utility clarity on the project's final price tag and bring the prudency review to a close after years of proceedings.
Source: ANS Nuclear Newswire - https://www.ans.org/news/article-5327/georgia-power-psc-staff-reach-deal-on-vogtle-project-recovery-costs/