Georgia Power files recommendation to complete Vogtle nuclear expansion
Georgia Power recently filed a recommendation supported by the project’s co-owners with the Georgia Public Service Commission (PSC) to continue construction of the Vogtle nuclear expansion near Augusta, Georgia.
The Georgia PSC will review the recommendation and make a final decision regarding the future of the Vogtle 3 & 4 project as part of the 17th Vogtle Construction Monitoring (VCM) proceeding.
“Completing the Vogtle 3 & 4 expansion will enable us to continue delivering clean, safe, affordable and reliable energy to millions of Georgians, both today and in the future,” Paul Bowers, chairman, president, and CEO of Georgia Power, said. “The two new units at Plant Vogtle will be in service for 60 to 80 years and will add another low-cost, carbon-free energy source to our already diverse fuel mix.”
The recommendation follows a schedule, cost-to-complete and cancellation assessment.
Georgia Power, which owns 45.7 percent of the new units, has invested approximately $4.3 billion in capital costs in the expansion and estimated that its costs to complete the project will reach approximately $4.5 billion for a total of approximately $8.8 billion. The total estimated capital cost forecast for completion of the project is approximately $19 billion.
Georgia Power expects Vogtle Unit 3 to begin commercial operation in Nov. 2021 and for Unit 4 to enter operation in Nov. 2022.
“Since the beginning of the Vogtle expansion, we have worked to minimize the impact of this critical project on customers’ monthly bills and, even as we assessed our options of whether or not to continue the project, our focus has been to ensure long-term value,” Bowers said. “Today, the total cost of electricity from Georgia Power is significantly below the national average, and when the project is completed, we expect that the new units will help keep energy bills competitive.”
