ATLANTA (AP) -- Utility regulators in Georgia are weighing an agreement to drop a financial risk-sharing plan that would cut Georgia Power's profits if the company exceeds its budget building a new nuclear power plant.
The agreement between the Southern Co. subsidiary and the staff at the Public Service Commission would eliminate a proposal to trim the power company's profits if the cost of building two more nuclear reactors at Plant Vogtle goes over budget. The elected commissioners plan to vote on that agreement during an Aug. 2 meeting.
Georgia Watch attorney Clare McGurie told the commissioners during a hearing Thursday that they should adopt a financial risk-sharing plan to help shield customers from paying for cost overruns during construction. The company and a PSC staff attorney called the deal fair.