News

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.

Kevin Randolph

Recent Posts

NERC makes recommendations for proactively meeting power challenges this summer

The power industry and policymakers should consider implementing several recommendations now to meet expected supply shortfalls prior to the start…

23 hours ago

National Renewable Energy Lab uses robots to aid wind turbine blade manufacturing

Looking to cut down on the difficult nature of the work for humans and improve consistency of the outcome, the…

2 days ago

Switch to LED streetlights could save Sylvania, Ohio nearly $77,000 annually

Toledo Edison this month began a massive streetlight conversion project through Sylvania, Ohio, installing the first of 1,650 LED replacements.…

2 days ago

Southern Nuclear names new CEO and chairman

Peter Sena III has been named the new chairman and CEO of Southern Nuclear, a subsidiary of the Southern Company.…

2 days ago

Argonne National Lab to build R&D facility to test large-scale fuel cell systems

The U.S. Department of Energy’s (DOE) Argonne National Laboratory (ANL) is con structing a research and development (R&D) facility to…

2 days ago

Program that offers tax credits for wind and solar in low-income communities to launch soon

A program that provides a 10 or 20-percentage point boost to the investment tax credit for qualified solar or wind…

3 days ago

This website uses cookies.