Consumer and environmental advocates packed a House subcommittee meeting Tuesday to support a measure barring Georgia Power from earning its allotted 11.15 percent return off any cost increases from expanding Plant Vogtle.
Cost increases for the $14 billion project to build two nuclear reactors are looming, as the project has faced delays tied mostly to site preparation and initial construction work. Rep. Jeff Chapman, R-Brunswick, told the House subcommittee that oversees legislation related to utilities that Georgia Power should forgo earning a profit off any additional Vogtle costs.
“It incentivizes costs overruns,” Chapman said.
Consumers already are paying for Georgia Power’s $6.1 billion share of Vogtle, which it is building with a group of municipal and cooperative utilities. John D’Andrea, the utility’s legislative affairs manager, said the bill is unnecessary because state utility regulators routinely review the project’s schedule and budget.
The panel did not vote on the bill. At the end of the meeting, Chapman offered up a list of amendments that would cap Georgia Power’s profits if the project’s costs increased by $100 million, $200 million, $300 million or $400 million.
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