Georgia Power has announced that customers will be paying less money for the Plant Vogtle expansion.
Plant Vogtle is a nuclear power plant in Waynesboro, Georgia, that is majority-owned by Georgia Power. In December 2017, the Georgia Public Service Commission approved adding a third and fourth unit to the plant. These will be the first new nuclear units built in the U.S. in the past 30 years.
Because of changes in federal tax law, Georgia Power announced Tuesday that customers will pay $139 million dollars less for the expansion of Plant Vogtle. This translates to a savings of $2.70 per month for Georgia Power customers.
Additionally, Toshiba, the parent company of the original Vogtle project contractor, Westinghouse, has payed its guarantee payments to Georgia Power. This will also result in savings for customers, in the amount of $75 dollars per individual, spread across three 2018 bill payments.
Another $43.6 million dollars also needs to be refunded back because the company earned above its 2016 allowed earnings range. The details of that are currently being worked out with the Georgia Public Service Commission.
According to Georgia Power, Plant Vogtle’s expansion will produce enough electricity to power 1 million homes and businesses in Georgia.