Georgia Power and Public Service Commission staff reached an agreement on recovering costs from the Plant Vogtle nuclear expansion near Augusta, a project that delivered the first newly built U.S. nuclear units in three decades when it was completed in April 2024. The settlement shapes how much of the plant's cost flows to customers.
Under the commission's decisions, Georgia Power may charge ratepayers for $7.56 billion of the roughly $10.2 billion it expects to spend completing the project, while the utility and parent Southern Company absorb the remaining $2.63 billion. Regulators approved a 3.5 percent rate increase that raises the average residential bill by about $5.48 per month.
Georgia Power has agreed to hold base power rates steady through the end of 2028, though customer bills can still move with fuel and other adjustments.
The completed Vogtle units have become a significant grid resource. Nuclear power accounted for about 34 percent of Georgia Power's generation by kilowatt-hours in 2024, ahead of coal at 19 percent and behind natural gas at 44 percent, with hydro and other sources making up the balance.
Source: ANS Nuclear Newswire - https://www.ans.org/news/article-5327/georgia-power-psc-staff-reach-deal-on-vogtle-project-recovery-costs/