Atlanta-based Georgia Power, the main Vogtle partner, told state utility regulators last month that its construction costs to finish the plant will rise by about $4.5 billion, boosting its total to $8.8 billion.
The ultimate price, including spending by all project partners and financing costs, could go above $26 billion, based on Georgia Power’s estimates for its share. That’s about double the original projected cost when the project was started in 2009.
The Georgia Public Service Commission is expected to make a decision in February on whether to continue construction, but most commissioners have already signalled they don’t want to abandon it.
After the Westinghouse bankruptcy, partners in a similar unfinished project in South Carolina decided to shut it down because of rising costs and risks due to the bankruptcy, and slowing demand for electricity.