#VOGLA POWER PLAT UPDATE#

But Oglethorpe, MEAG and Dalton don’t have shareholders, meaning customers are fully exposed to overruns. Now the third reactor is set to begin operation in March 2023, and the fourth reactor is set to begin operation in December 2023.Ītlanta-based Southern Co., which owns Georgia Power, has been charging increasing shares of its cost overruns as shareholder losses, saying it’s unlikely that the Georgia Public Service Commission will approve adding amounts to the bills of Georgia Power’s 2.6 million customers. When approved in 2012, the third and fourth reactors were estimated to cost $14 billion, with the first electricity being generated in 2016. The municipal utility in Jacksonville, Florida, as well as some other municipal utilities and cooperatives in Florida and Alabama are obligated to buy power from the plant. The city of Dalton, which owns 1.6%, estimated its cost at $240 million in 2021. In March bumped up its cost projects by $250 million to $8.5 billion. Oglethorpe Power Corp., which provides power to 38 cooperatives in Georgia, owns 30% of Vogtle. MEAG, which owns 22.7% of Vogtle and provides power to city-owned utilities, raised its total cost forecast, including capital spending and borrowing costs, to $7.8 billion from the previous level of $7.5 billion.

#VOGLA POWER PLAT UPDATE#

Georgia Power’s costs only cover the 45.7% of the plant it owns, meaning that the cooperatives and municipal utilities that own the majority of the two-reactor project later update their financial projections as well. announced delays and $920 million in overruns on March 3. The latest increase in the budget, by the Municipal Electric Authority of Georgia, wasn’t a surprise after lead owner Georgia Power Co.

Vogla power plat