Georgia Power customers to receive second $25 Vogtle credit
Georgia Power recently announced that its customers would receive the second of three $25 credits for the Vogtle nuclear expansion on their July bills.
The Georgia Public Service Commission (PSC) approved a total of $75 in 2018 bill credits, or $188 million overall, as part of its December 2017 order to continue construction of Vogtle 3 & 4. Georgia Power expects to issue the final $25 credit in September.
The credits are a direct result of parent guarantee payments for the Vogtle project from Toshiba. The company’s updated 2018 Nuclear Construction Cost Recovery (NCCR) tariff enables the company to collect financing costs for the Vogtle expansion every month, which reduces financing and borrowing costs and phases the new units into rates over time.
Due to the Toshiba parent guarantee payments and changes in federal tax law, customers will pay $139 million less than expected in 2018 for the Vogtle project, Georgia Power said. The typical residential customer using 1,000 kilowatt-hours per month will pay $1 less per month than they did in 2017.
