Georgia Power says price of nuclear expansion going up

Georgia Power filed documents Friday acknowledging more delays and cost increases tied to its massive nuclear expansion of Plant Vogtle south of Augusta.

The project’s price tag is on track to hit just above $7.5 billion, based on figures in the company’s new filing to the Georgia Public Service Commission. That factors in higher costs as a result of an 18-month delay that the state’s largest utility disclosed late last month, as well as previous pushbacks.

The company asked state regulators to certify certain cost increases.

All told, Georgia Power’s share of the project’s costs is about $1.4 billion more than the $6.1 billion it projected in 2009 when it won approval from the PSC for Vogtle’s expansion. Elected members of the PSC eventually must decide whether to pass along any of that increase to the monthly bills of Georgia Power customers.

The project represents the first major newly licensed U.S. nuclear power reactors in three decades.

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