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PSC approves first Vogtle construction report
The Georgia Public Service Commission has approved Georgia Power’s first semi-annual Vogtle construction monitoring report.
The commission unanimously approved an agreement to resolve all issues in Georgia Power's first semi-annual Vogtle Construction Monitoring Report for the period through June 30. The stipulation lowers the certified cost of the plant from $6.446 billion to $6.113 billion, to reflect a savings of $300 million. This savings is the result of allowing the company to recover financing costs during construction of the two new units.
The agreement specifies:
- Georgia Power should continue the project.
- The PSC and Georgia Power agree to allow the independent construction monitor access to meetings of the construction consortium.
- Georgia Power will request access for the construction monitor to meetings between the nuclear reactor vendor, Westinghouse, and the Nuclear Regulatory Commission.
- Each February, Georgia Power will update its load and energy forecasts and other factors that affect project economics.
- Georgia Power and the PSC will continue to work together to develop a risk-sharing mechanism that will provide protection to the ratepayers.
The commission on March 17, 2009, approved Georgia Power's request to certify the construction of the new nuclear power units at its Plant Vogtle Nuclear Power Plant near Waynesboro, Ga. Under the agreement approved by the PSC, Georgia Power must file semi-annual monitoring and monthly status reports with the commission.
The semi-annual monitoring report includes any proposed revisions to the cost estimate, construction schedule or project configuration, as well as a report on actual costs incurred and an updated comparison of the economics of the certified project.
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