Panel says no to charging ratepayers for nuclear reactors before construction

A panel of the Georgia Public Service Commission says Georgia Power should delay charging customers for construction of two new nuclear power plants in eastern Georgia.

Georgia Power wants to charge its ratepayers now for the construction of two new nuclear reactors at the Plant Vogtle power plant near Waynesboro. They say that would reduce the cost of the plant.

But an independent panel, the PSC's public advocacy staff, has recommended against that.

The panel says current ratepayers should not subsidize a plant that will serve future ratepayers. They say the construction costs should only factor into rates after the plant goes online in 2017, if the new reactors are approved.

Georgia Power is the primary owner of Plant Vogtle. The company estimates the cost of construction to be about $9.8 billion, with Georgia Power funding $4.5 billion. Georgia Power has said its share of the construction costs could increase to $6.4 billion with interest.

The panel's recommendation, meanwhile, is not final. The PSC will make that decision in March.