Georgia Power says the project is still on track for completion in November 2021 and 2022.
According to the company officials, the revised cost includes $700 million in actual project costs and an increased contingency cost of $400 million.
Georgia Power said the contingency cost may later be presented to the PSC for “evaluation as and when appropriate in the future.”
Georgia Power CEO Paul Bowers acknowledged the project’s challenges but said his company remained focused on reducing the risks associated with the project.
“Our responsibility is to our customers first and we are accountable to them for this project and committed to ensuring that our state has affordable and reliable energy today and for generations to come,” said Bowers.